Atria Communities Announces First Quarter Results.LOUISVILLE, Ky.--(BUSINESS WIRE)--April 28, 1998--Atria Communities, Inc. (Nasdaq/NM:ATRC ATRC Adaptive Technology Resource Centre (Canada) ATRC Assistive Technology Resource Center ATRC Aegis Training and Readiness Center ATRC Advanced Television Research Consortium ATRC Alien Terrorist Removal Court ATRC Against the Rest Crew ) today reported results for the three months ended March 31, 1998. Revenues for the first quarter totaled $25.3 million compared with $14.2 million in the year-earlier period. Net income for the first quarter amounted to $2.6 million, or $0.11 per diluted share, compared to $1.6 million, or $0.10 per diluted share, in the year- earlier period. Earlier this month, Atria Atria The heart has four chambers. The right and left atria are at the top of the heart and receive returning blood from the veins. The right and left ventricles are at the bottom of the heart and act as the body's main pumps. Communities, Inc. ("Atria") and Kapson Senior Quarters Corp. ("Kapson"), an affiliate of Lazard Freres Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , announced a definitive merger agreement under which Kapson will acquire Atria in a transaction valued at approximately $750 million. Under the terms of the merger agreement, a subsidiary of Kapson will merge into Atria and the public stockholders of Atria will receive $20.25 per share in cash. The merger is subject to customary conditions, Condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. Consolidated Financial Results (Unaudited) $14,217,000 Net income $ 2,567,000 $ 1,578,000 Earnings per common share: Basic $ 0.11 $ 0.10 Diluted $ 0.11 $ 0.10 Shares used in computing earnings per common share: Basic 23,378,000 15 March 31, ------------------ nt 766 39 Depreciation and amortization 2,618 1,388 Other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. 4,513 2,786 -------- ---- 2,268 1,182 Investment income (2,279) (753) -------- ------- Income before income tahare: Basic $ 0.11 $ 0.10 Diluted $ 0.11 $ 0.10 Shares used in computing earnings per common share: Basic 23,378 15,830 Diluted siness Wire's full file on the Internet |
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