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Beverly Enterprises.


Announces First Quarter Results

FORT SMITH, April 22, 1991 -- For the three months ended March 31, 1991, revenues were $546 million compared to $501 million reported for the first quarter of 1990. Pre-tax income for the first quarter of 1991 was $7 million compared to $1 million in the same period last year. Net income for the first quarter of 1991 was $4.4 million or 6 cents per share, compared to a net income of $682,000 or 1 cent per share in the same period last year.

On April 4, 1991, the Company completed the sale of 6.9 million shares of its common stock through a public offering. The net proceeds of approximately $69.7 million from this offering have been used to repurchase and retire Senior Secured Notes, to repay indebtedness under the Senior Bank Facility and to pay outstanding dividend arrearages on the Company's Preferred Shares.

Beverly Enterprises, Inc. is a long-term health care company, operating nursing facilities, pharmacies, retirement living centers, and home health centers. Its mission is to be the provider of choice in the communities where it operates, by delivering high quality health care services that meet the unique needs of each of those communities.

Contact: David R. Banks, Chairman and Chief Executive Officer, Andre Dimitriadis, Executive Vice President and Chief Financial Officer, William McBride III, Vice President and Controller, Beverly Enterprises, P. O. Box 3324, Fort Smith, AR 72913-3324, (501) 452-6712.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Public Company Corporate Reports
Publication:Arkansas Business
Date:May 6, 1991
Previous Article:First United Bancshares Inc.
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