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NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 23 PERCENT INCREASE IN THIRD QUARTER EARNINGS PER SHARE

 NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES
 23 PERCENT INCREASE IN THIRD QUARTER EARNINGS PER SHARE
 NEWPORT BEACH, Calif, Oct. 8 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the third quarter and nine months ended Sept. 30, 1992.
 Net income increased to $8,673,000 or $.53 per share, compared with $5,709,000 or $.43 per share for the third quarter a year ago, a per share increase of 23 percent. Revenues for the quarter increased 46 percent to $13,860,000 compared with the third quarter of last year. Cash flow available from operations for the quarter increased 17 percent to $.68 per share, compared with $.58 per share in the third quarter of 1991.
 For the nine months ended Sept. 30, 1992, income before extraordinary items increased to $20,598,000 or $1.44 per share. As previously reported, during the first quarter of 1991 the company incurred an extraordinary charge of $3,460,000 or $.27 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 nine months increased 14 percent to $1.92 per share, compared with $1.68 per share a year ago.
 "The company's acquisition of performing mortgage loans from the RTC, which added approximately $86,000,000 of assets, provided a substantial portion of the third quarter's growth in earnings and cash flow," said R. Bruce Andrews, president and chief executive officer.
 Nationwide Health Properties Inc. is a real estate investment company that invests in health care facilities. The company has investments in 154 facilities in 28 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In thousands except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues $13,860 $9,467 $35,683 $25,854
 Income before extra-
 ordinary items $8,673 $5,709 $20,598 $15,872
 Extraordinary charge $0 $0 $0 $3,460
 Net income $8,673 $5,709 $20,598 $12,412
 Per share amounts
 Income before extra-
 ordinary items $.53 $.43 $1.44 $1.25
 Extraordinary charge $0 $0 $0 $.27
 Net income $.53 $.43 $1.44 $.98
 Weighted average shares
 outstanding 16,286 13,226 14,316 12,703
 -0- 10/8/92
 /CONTACT: R. Bruce Andrews, president and CEO, or Mark L. Desmond, VP and treasurer, both of Nationwide Health Properties, 714-251-1211/
 (NHP) CO: Nationwide Health Properties Inc. ST: California IN: HEA FIN SU: ERN


LS-JB -- LA008 -- 0304 10/08/92 09:19 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
Words:436
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