NHC Reports Year End Earnings
Diluted earnings per share were
Net operating revenues for the three months ended
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements.
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Consolidated Statements of Income |
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(in thousands, except share and per share amounts) | ||||||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
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2017 | 2016 | 2017 | 2016 | |||||||||||||||||
(unaudited) | ||||||||||||||||||||
Revenues: | ||||||||||||||||||||
Net patient revenues | $ | 233,989 | $ | 227,484 | $ | 919,843 | $ | 880,724 | ||||||||||||
Other revenues | 12,322 | 10,517 | 47,153 | 45,914 | ||||||||||||||||
Net operating revenues | 246,311 | 238,001 | 966,996 | 926,638 | ||||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Salaries, wages and benefits | 145,404 | 142,516 | 572,043 | 548,007 | ||||||||||||||||
Other operating | 62,156 | 56,262 | 252,934 | 233,833 | ||||||||||||||||
Facility rent | 10,094 | 10,332 | 40,367 | 41,292 | ||||||||||||||||
Depreciation and amortization | 11,043 | 10,176 | 42,652 | 39,023 | ||||||||||||||||
Interest | 1,291 | 1,028 | 4,890 | 3,941 | ||||||||||||||||
Total costs and expenses | 229,988 | 220,314 | 912,886 | 866,096 | ||||||||||||||||
Income before non-operating income | 16,323 | 17,687 | 54,110 | 60,542 | ||||||||||||||||
Non-operating income | 4,392 | 4,876 | 20,439 | 19,665 | ||||||||||||||||
Income before income taxes | 20,715 | 22,563 | 74,549 | 80,207 | ||||||||||||||||
Income tax (provision)/benefit | 581 | (8,700 | ) | (18,867 | ) | (29,669 | ) | |||||||||||||
Net income | 21,296 | 13,863 | 55,682 | 50,538 | ||||||||||||||||
Loss attributable to noncontrolling interest | 174 | - | 523 | - | ||||||||||||||||
Net income attributable to |
$ | 21,470 | $ | 13,863 | $ | 56,205 | $ | 50,538 | ||||||||||||
Earnings per common share | ||||||||||||||||||||
Basic | $ | 1.41 | $ | 0.92 | $ | 3.70 | $ | 3.34 | ||||||||||||
Diluted | $ | 1.41 | $ | 0.91 | $ | 3.69 | $ | 3.32 | ||||||||||||
Weighted average common shares outstanding | ||||||||||||||||||||
Basic | 15,200,619 | 15,150,514 | 15,189,920 | 15,134,518 | ||||||||||||||||
Diluted | 15,222,343 | 15,176,453 | 15,218,962 | 15,206,997 | ||||||||||||||||
Dividends declared per common share | $ | 0.48 | $ | 0.45 | $ | 1.89 | $ | 1.75 | ||||||||||||
Balance Sheet Data | ||||||||||||||||||||
(in thousands) | |
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2017 | 2016 | |||||||||||||||||||
Cash, cash equivalents and marketable securities | $ | 198,203 | $ | 164,348 | ||||||||||||||||
Restricted cash, cash equivalents and marketable securities | 174,698 | 188,958 | ||||||||||||||||||
Current assets | 329,311 | 290,857 | ||||||||||||||||||
Property and equipment, net | 549,319 | 559,624 | ||||||||||||||||||
Total assets | 1,096,526 | 1,087,447 | ||||||||||||||||||
Current liabilities | 155,065 | 150,928 | ||||||||||||||||||
Long-term debt | 100,000 | 120,000 | ||||||||||||||||||
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702,738 | 669,611 | ||||||||||||||||||
Selected Operating Statistics | |||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||
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2017 | 2016 | 2017 | 2016 | ||||||||||||||
(unaudited) | |||||||||||||||||
Skilled Nursing Per Diems: | |||||||||||||||||
Medicare | $ | 459.14 | $ | 462.59 | $ | 460.82 | $ | 452.51 | |||||||||
Managed Care | 400.91 | 413.40 | 405.67 | 404.78 | |||||||||||||
Medicaid | 187.07 | 186.24 | 186.53 | 182.89 | |||||||||||||
Private Pay and Other | 231.17 | 225.98 | 231.61 | 224.53 | |||||||||||||
Average Skilled Nursing Per Diem | $ | 265.30 | $ | 262.87 | $ | 266.45 | $ | 259.80 | |||||||||
Skilled |
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Medicare | 121,295 | 115,970 | 481,580 | 475,637 | |||||||||||||
Managed Care | 58,421 | 56,342 | 244,908 | 222,635 | |||||||||||||
Medicaid | 321,653 | 325,940 | 1,281,432 | 1,284,722 | |||||||||||||
Private Pay and Other | 183,633 | 180,787 | 725,460 | 712,570 | |||||||||||||
Total Skilled |
685,002 | 679,039 | 2,733,380 | 2,695,564 | |||||||||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20180220005671/en/
SVP, General Counsel
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