Printer Friendly

AMERIHEALTH, INC. REPORTS INCREASED THIRD QUARTER RESULTS

 AMERIHEALTH, INC. REPORTS INCREASED THIRD QUARTER RESULTS
 ATLANTA, Oct. 22 /PRNewswire/ -- AmeriHealth, Inc. (AMEX: AHH), the Richmond-based hospital management company, today reported net income of $317,000 on total revenues of $11,071,000 for the third quarter ended Sept. 30, 1992 compared to net income of $309,000 on total revenues of $10,285,000 for the comparable quarter in 1991. Operating results for the comparable 1992 and 1991 quarters included income tax benefits of $81,000 and $123,000 respectively, arising from the carryforward of operating losses.
 On a per share basis, after deducting dividend and accretion requirements for holders of the Company's Series B Preferred Stock, the Company reported net income of $.02 per common share for the third quarter of 1992 compared to net income of $.01 per common share for the third quarter of 1991. After giving effect to full dilution with respect to the Company's Series B Preferred Stock, the Company reported net income of $.02 per share for the third quarter of 1992.
 For the first nine months of 1992, the Company reported net income of $1,905,000 on total operating revenues of $34,286,000 compared to net income of $366,000 on operating revenues of $28,991,000 for the comparable period in 1991. On a per share basis, after deducting dividend and accretion requirements for holders of the Company's series B Preferred Stock, the Company reported net income of $.17 per common share for the first nine months of 1992 compared to a net loss of $(.11) per share for the first nine months of 1991. Assuming full dilution, the Company reported net income of $.10 per share for the nine months ended Sept. 30, 1992.
 William G. White, Chairman and CEO of AmeriHealth, commenting on the third quarter financial results said, "Our operating performance in the third quarter continued to improve on a 'same store' basis over the comparable quarter in the prior year. All segments of our operations contributed to this accomplishment and we expect continuing improvement in operating performance for the balance of the year. Overall, we continue to demonstrate improvement in operations and to show strengthening of our facilities' management teams."
 Founded in 1983, AmeriHealth, Inc. now owns, manages and/or provides management consulting services to thirteen hospitals and other health care facilities in Alabama, Florida, Georgia, Pennsylvania, Texas and Virginia.
 AMERIHEALTH, INC. SELECTED FINANCIAL DATA
 FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 1992
 (In thousands, except per share data)
 Quarter Ended Nine Months Ended
 September 30 September 30
 1992 1991 1992 1991
 Operating revenues $11,071 $10,285 $34,286 $28,991
 Income before extraordinary
 item 236 186 1,301 220
 Extraordinary item 81 123 604 146
 Net Income $ 317 $ 309 $ 1,905 $ 366
 Net Income $ 317 $ 309 $ 1,905 $ 366
 Series B Preferred Stock
 dividends accrued (86) (218) (336) (649)
 Accretion of Series B
 Preferred Stock redemption
 requirement(A) ---- (45) (21) (136)
 Net income (loss) applicable to
 Common Stock $ 231 $ 46 $ 1,548 $ (419)
 Earnings (loss) per common
 share:
 Income (loss) before
 extraordinary item $ .01 $ (.02) $ .10 $ (.14)
 Extraordinary item .01 .03 .07 .03
 Net income (loss) $ .02 $ .01 $ .17 $ (.11)
 Earning per share assuming
 full dilution (B):
 Income before extraordinary
 item $ .01 $ .07
 Extraordinary item .01 .03
 Net income assuming full
 dilution $ .02 $ .10
 (A) The sum of preferred stock dividends accrued per quarter do not
 equal year to date preferred stock dividends accrued due to
 quarterly fluctuations in the number of preferred shares
 outstanding.
 (B) An earnings per share assuming full dilution calculation was not
 applicable for the quarter and nine months ended September 30,
 1991 due to the anti-dilutive effect of such calculation.
 -0- 10/22/92
 /CONTACT: Kenneth D. Hawkins, AmeriHealth, Inc., 404-956-9600/
 (AHH) CO: AmeriHealth, Inc. ST: Virginia IN: HEA SU: ERN


SB-MM -- CH011 -- 3821 10/22/92 16:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 22, 1992
Words:645
Previous Article:TENNECO NAMES REBECCA FOLLOWILL MANAGER, INVESTOR RELATIONS
Next Article:NETRIX ANNOUNCES THIRD QUARTER RESULTS; REPORTS FIFTH CONSECUTIVE PROFITABLE QUARTER
Topics:


Related Articles
AMERIHEALTH ANNOUNCES 97 PERCENT ACCEPTANCE OF WARRANT EXCHANGE OFFER
AMERIHEALTH, INC. REPORTS IMPROVEMENT IN EARNINGS FOLLOWING REVITALIZATION OF SUBSIDIARIES
AMERIHEALTH, INC. REPORTS FIRST QUARTER RESULTS
AMERIHEALTH, INC. REPORTS FIRST QUARTER RESULTS
AMERIHEALTH, INC. REPORTS SECOND QUARTER RESULTS
AMERIHEALTH, INC. REPORTS FIRST QUARTER RESULTS
KAHN ANNOUNCES ACQUISITION OF INTEREST IN AMERIHEALTH
AMERIHEALTH INC. REPORTS SECOND QUARTER RESULTS
AMERIHEALTH STOCKHOLDERS GROUP DEMANDS IMMEDIATE REPRESENTATION FOR PREFERRED STOCKHOLDERS
Statement from AmeriHealth Regarding the National Labor Relations Board Three-Member Panel's Decision to Uphold the Regional Director's Ruling That...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters