NHC Reports Year End Earnings
For release: February 22, 2011
Contact: Gerald Coggin, Sr. VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE Amex: NHC, NHC.PRA), one of the nation’s oldest long-term health care companies, today announced net income available to common shareholders of $44,022,000 or $3.22 per share basic for the year ended Dec. 31, 2010, compared to $31,376,000 or $2.31 per share basic for the year ended Dec. 31, 2009, an increase of 40.3%. Annual operating revenues in 2010 increased 7.1% from $668,221,000 to $715,504,000.
Fourth quarter of 2010 net income available to common shareholders was $13,187,000 or 97 cents per basic share, compared to $4,986,000 or 37 cents per basic share in the fourth quarter of 2009. Operating revenues for the fourth quarter of 2010 increased 13.1% from $168,499,000 to $190,568,000. Operating results for the fourth quarter of 2010 benefitted from Medicare reimbursement rate changes effective October 1, 2010, improved patient mix, and a $2,172,000 after tax gain on the recovery of certain assets previously written off.