HORIZON HEALTHCARE CORP. CONFIDENT IT WILL EXCEED PROFIT EXPECTATIONS FOR THE SECOND QUARTER
HORIZON HEALTHCARE CORP. CONFIDENT IT WILL
EXCEED PROFIT EXPECTATIONS FOR THE SECOND QUARTER
ALBUQUERQUE, N.M., Nov. 19 /PRNewswire/ -- Executives of Horizon Healthcare Corp. (NYSE: HHC) told guests attending the Robertson Stephens & Co. Medical Conference in New York today, they are confident the company will exceed analysts' estimates for the second quarter of fiscal 1992.
Klemett Belt, executive vice president and chief financial officer of Horizon told the group attending the medical conference that revenue for the first two months of the second quarter is exceeding projections, and said he was "optimistic that the company would exceed analysts' earnings expectations for the quarter." Belt continued, "First quarter FY 1992 results were $.09 per share, an 80 percent increase as compared to $.05 per share in the comparable period of the prior fiscal year. We expect earnings of $.10 per share for the second quarter, $.01 higher than most estimates. This would represent a 67 percent increase as compared to the $.06 per share earned in the second quarter of fiscal 1991." Belt added, "The company's results continue to improve based upon better contributions from specialty services and programs, higher census levels and successful acquisitions."
Horizon Healthcare Corp., headquartered in Albuquerque, is a leading provider of quality long-term healthcare. As of Nov. 19, 1991, the company operated 60 long-term care centers with a total of 6,141 beds in eight states.
/CONTACT: Michael H. Seeliger of Horizon Healthcare, 505-881-4961/
(HHC) CO: Horizon Healthcare Corp. ST: New Mexico IN: HEA SU: EH-SE -- DV002 -- 4818 11/19/91 09:30 EST