NHC Reports Third Quarter EarningsPosted 11/05/2013
or release: November 5, 2013
Contact: Gerald Coggin, Sr. VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. — National HealthCare Corporation (NYSE MKT: NHC, NHC.PRA), the nation’s oldest publicly traded senior health care company, today announced net income available to common shareholders for the quarter ended September 30, 2013 of $17,710,000 compared to $15,029,000 for the quarter ended September 30, 2012, an increase of 17.8%. Net income was $1.28 per common share basic for the quarter ended September 30, 2013 compared to $1.08 per common share basic for the quarter ended September 30, 2012.
Revenues for the three months ended September 30, 2013 totaled $195,772,000 compared to $189,307,000 for the same three months of 2012, an increase of 3.4% despite the automatic 2% cuts known as “sequestration” that began on April 1, 2013 for Medicare providers.
Operating results for the third quarter of 2013 compared to the same quarter last 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), as well as an improved patient mix, and continued efforts to reduce expenses in our skilled nursing facilities.
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