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NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 8 PERCENT INCREASE IN YEAR-END OPERATING EARNINGS PER SHARE

 NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES
 8 PERCENT INCREASE IN YEAR-END OPERATING EARNINGS PER SHARE
 NEWPORT BEACH, Calif., Jan. 20 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the year and the fourth quarter of 1991.
 For the quarter, net income increased to $5,669,000 or $.43 per share, compared with $4,465,000 or $.40 per share for the fourth quarter a year ago, a per share increase of 8 percent. Revenues for the quarter increased 29 percent to $10,524,000 compared with the fourth quarter of last year.
 For the year ended Dec. 31, 1991, income before extraordinary items increased 8 percent to $1.68 per share. Revenues for the full year 1991 increased 15 percent to $36,378,000 compared with 1990. 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. After the extraordinary charge, net income for 1991 was $18,081,000, or $1.41 per share, compared with net income of $17,108,000, or $1.56 per share in 1990.
 Cash flow available from operations for 1991 increased to $29,303,000, or $2.28 per share, compared with $23,700,000, or $2.16 per share in 1990. Cash flow available from operations for the quarter increased 7 percent to $.60 per share, compared with $.56 per share in the fourth quarter of 1990.
 "The operating results benefited from acquisitions and growing additional rents during the year and provide the basis for the company's policy of providing shareholders with dividends increasing every quarter," said R. Bruce Andrews, president and chief executive officer. "The fourth quarter dividend of $.53 per share was an increase of 8 percent over the previous year's quarter and amounted to 88 percent of the company's cash flow for the quarter."
 Nationwide Health Properties Inc. is a real estate investment trust that invests in health care facilities. The company owns 112 facilities in 26 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In thousands except per share amounts)
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenues $10,524 $8,178 $36,378 $31,538
 Income before extra-
 ordinary items $5,669 $4,465 $21,541 $17,108
 Extraordinary charge $0 $0 $3,460 $0
 Net income $5,669 $4,465 $18,081 $17,108
 Per share amounts
 Income before extra-
 ordinary items $.43 $.40 $1.68 $1.56
 Extraordinary charge $0 $0 $.27 $0
 Net income $.43 $.40 $1.41 $1.56
 -0- 1/20/92
 /CONTACT: R. Bruce Andrews, president and CEO, or Mark L. Desmond, VP and treasurer, 714-251-1211, both of Nationwide Health Properties/
 (NHP) CO: Nationwide Health Properties Inc. ST: California IN: HEA SU: ERN


DM-BB -- LA014 -- 1446 01/20/92 13:30 EST
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Publication:PR Newswire
Date:Jan 20, 1992
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