NHC Reports Year End EarningsPosted 02/24/2014
For release: February 24, 2014
MURFREESBORO, Tenn. — National HealthCare Corporation (NYSE MKT: NHC, NHC.PRA), the nation’s oldest publicly traded long-term health care company, today announced net income available to common shareholders of $55,942,000 or $4.05 per share basic for the year ended December 31, 2013, compared to $50,629,000 or $3.65 per share basic for the year ended December 31, 2012. Annual net operating revenues in 2013 increased 3.7% from $761,002,000 to $788,957,000, despite the automatic 2% cuts known as “sequestration” that began on April 1, 2013 for Medicare providers.
Operating results for the 2013 year compared to the 2012 year were favorably impacted by a gain on the recovery of notes receivable in the amount of $5,454,000 (approximately $3,327,000 after income taxes), by the positive results within our accrued risk reserves, as well as the continued efforts to reduce expenses in our skilled nursing facilities.
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