Horizon Health Announces Fourth Quarter and Fiscal 2006 Results.LEWISVILLE, Texas Lewisville is a city in Denton County and Dallas County, Texas (USA). As of the 2000 census the city had a total population of 77,737. With strong population growth continuing into the new millennium, the U.S. Census Bureau gives a 2006 population estimate of 94,589. -- Horizon Health Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HORC HORC Heads of Research Councils ) today announced financial results for the fourth quarter and year ended August 31, 2006. For the fourth quarter, revenues increased 33.7% to $75.7 million compared with revenues of $56.6 million for the same quarter in the previous year. Income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased to $3.5 million, or $0.23 per diluted share, compared with a loss from continuing operations of $223,000, or $0.01 per diluted share, for the same quarter in the previous year. Net income increased $8.0 million between the periods. For the year ended August 31, 2006, revenues increased 32.6% to $275.0 million compared with revenues of $207.4 million for the previous year. Income from continuing operations increased 38.6% to $12.1 million, or $0.79 per diluted share, compared with income from continuing operations of $8.7 million, or $0.66 per diluted share, for the previous fiscal year. Diluted shares used in computing earnings per share increased 15.8% between the periods, primarily as a result of the secondary stock offering completed in March 2005. Mr. Ken Newman, Chairman and Chief Executive Officer of Horizon Health, said, "The Company accomplished significant growth in fiscal 2006, which occurred through the acquisition of ten behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or facilities during the year. These acquisitions increased revenues for our hospital services group to $158.3 million, or 58% of consolidated revenues. For fiscal 2007, we will continue our strategy of expanding the number of licensed beds through acquisition and/or expansion." A listen-only simulcast and a 30-day replay of Horizon's fourth quarter and fiscal year results call will be available online on November 10, 2006, beginning at 10:00 a.m. Central Time through the Company's website at www.horizonhealth.com or at www.earnings.com. Horizon Health is an owner of behavioral healthcare facilities and a leading manager of clinical services for acute care hospitals and employers. The statements contained herein based on future expectations rather than on historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 that involve a number of risks and uncertainties. Numerous factors as outlined in the SEC Report filed by the Company could cause actual results to differ materially from those in any such forward-looking statements. There can be no assurance that statements made in this press release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. [TABLE OMITTED] [TABLE OMITTED] During the quarter and year ended August 31, 2005, the Company incurred approximately $3.1 and $4.0 million in after tax non-recurring restructuring charges for the EAP (Extensible Authentication Protocol) A protocol that acts as a framework and transport for other authentication protocols. EAP uses its own start and end messages, but then carries any number of third-party messages between the client (supplicant) and access control Services group. The following schedule removes the after tax non-recurring charges from the quarter and year ended August 31, 2005 results. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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