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AMERIHEALTH, INC. REPORTS IMPROVEMENT IN EARNINGS FOLLOWING REVITALIZATION OF SUBSIDIARIES

 AMERIHEALTH, INC. REPORTS IMPROVEMENT IN EARNINGS
 FOLLOWING REVITALIZATION OF SUBSIDIARIES
 RICHMOND, Va., March 5 /PRNewswire/ -- AmeriHealth, Inc. (AMEX: AHH), the Richmond-based hospital management company, reported today that its program to restructure and revitalize its principal operating subsidiaries has resulted in significant improvements in operating performance and earnings.
 The company reported net income of $757,000 on net operating revenues of $39,927,000 for the year ended Dec. 31, 1991, compared with a net loss of $1,643,000 on net operating revenues of $37,724,000 in 1990.
 After deducting dividend and accretion requirements for Series B Preferred Stockholders of $1,043,000 in 1991 and $1,022,000 in 1990, the company reported a net loss of 7 cents per common share for 1991, compared with a net loss of 69 cents per common share for 1990.
 Net income for 1991 included an extraordinary credit of $273,000, or 7 cents per share, resulting from the utilization of tax net operating losses. The net loss for 1990 included a non-recurring charge of $596,000 and a $266,000 write-off of deferred financing costs.
 For the fourth quarter of 1991, the company reported net income of $391,000 on net operating revenues of $10,584,000, compared with a net loss of $469,000 on net operating revenues of $9,537,000 in the corresponding period a year earlier. After deducting dividend and accretion requirements for the preferred stockholders of $255,000 in 1991 and $245,000 in 1990, the company reported net earnings of 3 cents per common share for the fourth quarter of 1991, compared with a net loss of 18 cents per common share in the corresponding period a year earlier.
 William G. White, Chairman, President and Chief Executive Officer of AmeriHealth, said, "We are pleased with results to date from the restructuring and revitalization program that was begun in late 1990. Our decentralized management approach is already bearing fruit in terms of quality and improved morale and higher earnings throughout the company."
 AmeriHealth owns and operates Metropolitan Hospital in Richmond, Virginia, and the Autauga Medical Center and Autauga Health Care Center in Prattville, Alabama. AmeriHealth Management Company, a subsidiary, provides management and management consulting services for non-owned health care facilities.
 The restructuring and revitalization program includes the following elements:
 -- AmeriHealth, Inc. named Kenneth D. Hawkins as its Chief Financial Officer in October 1991. Hawkins is a certified public accountant with six years of health care experience. He is responsible for the treasury, accounting and financial reporting functions for the company and for the fiscal integrity of the accounting and financial reporting of the company's affiliates. He had held executive positions with Hallmark Health Care, Charter Medical Corporation and Wheat, First Securities.
 -- AmeriHealth Management Company named Steven M. Dick of Richmond President and Chief Executive Officer in early 1991. Dick is a pioneer in Diagnosis Rate Group management and an expert in revenue enhancement measures for hospitals. The subsidiary now provides management services to 11 health care facilities with over 1,000 beds, making AmeriHealth one of the largest investor-owned health care management companies in the United States. It also has reached agreements that give the subsidiary strategic advantages in obtaining business throughout the United States.
 -- AmeriHealth recruited highly qualified managers for key positions in its Richmond and Prattville facilities, and the three facilities are operating profitably under their leadership. Arthur M. Doloresco, who became President and Chief Executive Officer of Metropolitan Hospital in mid-1990, formerly was a chief operating officer and chief executive officer within the Hospital Corporation of America system. Roger D. Hall, who was named Chief Executive Officer of the two Prattville facilities in December 1990, is a former executive with the Humana system. William L. Lemley, a former hospital administrator, was named Administrator of the Autauga Health Care Center, a nursing home, in 1991.
 -- Metropolitan Hospital expanded its medical services last year, particularly in sports medicine, subacute neurological care and psychiatric care. Autauga Medical Center is continuing to make additions to its medical staff. Since AmeriHealth acquired the hospital in 1986, AMC's medical staff has grown from 11 supportive physicians to 27.
 White said, "These improvements position us well for continuing progress and growth in 1992. We look forward to broadening the company's capital base in the coming year and to refinancing on a favorable basis the company's Richmond and Prattville facilities."
 AMERIHEALTH, INC.
 SELECTED FINANCIAL DATA
 FOR THE FOURTH QUARTERS AND YEARS ENDED DEC. 31, 1991
 (In thousands, except per share data)
 Fourth Year Ended
 Quarter
 1991 1990 1991 1990
 Net operating revenues $10,584 $9,537 $39,927 $37,724
 Income (loss) before
 extraordinary item 264 (469) 484 (1,377)
 Extraordinary item 127 -- 273 (266)
 Net income (loss) 391 (469) 757 (1,643)
 Series B Preferred Stock
 dividends accrued (211) (201) (863) (799)
 Accretion of Series B
 Preferred Stock redemption
 requirement (44) (44) (180) (223)
 Net income (loss) applicable
 to common stock $ 136 $ (714) $ (286) $(2,665)
 Earnings (loss) per
 common share:
 Income (loss) before
 extraordinary item --- $(0.18) $(0.14) $(0.62)
 Extraordinary item .03 -- .07 (0.07)
 Net income (loss) $ .03 $(0.18) $(0.07) $(0.69)
 -0- 3/5/92
 /CONTACT: William G. White, 404-956-9600 or 404-988-9112, or Kenneth D. Hawkins, 804-643-1422, both of AmeriHealth, Inc./
 (AHH) CO: AmeriHealth, Inc. ST: Virginia IN: HEA SU: ERN


JZ -- CH011 -- 5676 03/05/92 18:04 EST
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Date:Mar 5, 1992
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