Printer Friendly

NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 13 PERCENT INCREASE IN SECOND QUARTER CASH FLOW PER SHARE

 NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 13 PERCENT
 INCREASE IN SECOND QUARTER CASH FLOW PER SHARE
 NEWPORT BEACH, Calif., July 9 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the second quarter and six months ended June 30, 1992.
 Net income increased to $6,068,000 or $.45 per share, compared with $5,517,000, or $.42 per share for the second quarter a year ago, a per share increase of 7 percent. Revenues for the quarter increased 31 percent to $10,904,000 compared with the second quarter of last year. Cash flow available from operations for the quarter increased 13 percent to $.62 per share, compared with $.55 per share in the second quarter of 1991.
 For the six months ended June 30, 1992, income before extraordinary items increased to $11,925,000, or $.90 per share. As previously reported, during the first quarter of 1991 the company incurred an extraordinary charge of $3,460,000, or $.28 per share, representing the write-off of unamortized deferred financing costs and fees in connection with the prepayment of a substantial portion of the company's secured debt.
 Cash flow available from operations for the six months increased 12 percent to $1.23 per share, compared with $1.10 per share a year ago.
 "Operating results showed continued improvement from acquisitions in 1991 and 1992, as well as from growing additional rents on the company's existing base of properties," said R. Bruce Andrews, president and chief executive officer. "These operating results do not reflect the company's acquisition of performing mortgage loans from the RTC, which is expected to close today. That acquisition will add approximately $86,000,000 of assets and should provide for even further growth in earnings and cash flow available from operations."
 Nationwide Health Properties Inc. is a real estate investment trust that invests in health care facilities. The company owns 113 facilities in 26 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In thousands except per share amounts)
 Three months ended Six months ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenues $10,904 $8,334 $21,823 $16,387
 Income before
 extraordinary
 items $6,068 $5,517 $11,925 $10,163
 Extraordinary
 charge $0 $0 $0 $3,460
 Net income $6,068 $5,517 $11,925 $6,703
 Per share
 amounts:
 Income before
 extraordinary
 items $.45 $.42 $.90 $.82
 Extraordinary
 charge $0 $0 $0 $.28
 Net income $.45 $.42 $.90 $.54
 Weighted average
 shares
 outstanding 13,373 13,218 13,321 12,438
 -0- 7/9/92
 /CONTACT: R. Bruce Andrews, president & CEO, or Mark L.


Desmond, VP & treasurer, 714-251-1211, both of Nationwide Health Properties/
 (NHP) CO: Nationwide Health Properties ST: California IN: HEA SU: ERN


CH-AL -- LA014 -- 7905 07/09/92 14:16 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:Jul 9, 1992
Words:465
Previous Article:MEDCO CONTAINMENT SERVICES AND UNITED HEALTHCARE ANNOUNCE AGREEMENT
Next Article:DOT AWARDS $9.6 MILLION RESEARCH CONTRACT TO MIT
Topics:


Related Articles
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 8 PERCENT INCREASE IN YEAR-END OPERATING EARNINGS PER SHARE
HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES THIRD QUARTER CASH FLOW OF 35 CENTS PER SHARE AND INCREASES DIVIDEND TO 32 CENTS PER SHARE
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 28 PERCENT INCREASE IN YEAR-END OPERATING EARNINGS PER SHARE
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 27 PERCENT INCREASE IN FIRST QUARTER EARNINGS PER SHARE
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 29 PERCENT INCREASE IN SECOND QUARTER EARNINGS PER SHARE
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES RECORD THIRD QUARTER EARNINGS
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
NATIONWIDE HEALTH PROPERTIES ANNOUNCES EIGHT PERCENT INCREASE IN THIRD QUARTER FUNDS FLOW PER SHARE
NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES RECORD FIRST QUARTER FINANCIAL RESULTS
NATIONWIDE ANNOUNCES RECORD FUNDS FROM OPERATIONS

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