Regional Health Properties, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 09, 2017 at 04:05 pm EST
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Regional Health Properties, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, total revenues were $6,345,000 against $7,165,000 a year ago. Income from operations was $1,401,000 compared to $2,026,000 a year ago. Income from continuing operations before income taxes was $285,000 compared to $225,000 a year ago. Income from continuing operations was $266,000 compared to $222,000 a year ago. Net loss attributable to the company’s common stockholders was $2,678,000 or $0.13 per basic and diluted share compared to $3,867,000 or $0.19 per basic and diluted share a year ago. Basic and diluted net loss per share of common stock attributable to company from continuing operations was $0.08 against $0.08 a year ago.
For the nine months, total revenues were $18,784,000 against $21,411,000 a year ago. Income from operations was $3,871,000 compared to $3,024,000 a year ago. Income from continuing operations before income taxes was $371,000 compared to loss from continuing operations before income taxes of $2,404,000 a year ago. Income from continuing operations was $351,000 compared to loss from continuing operations of $2,407,000 a year ago. Net loss attributable to the company’s common stockholders was $7,400,000 or $0.37 per basic and diluted share compared to $14,377,000 or $0.72 per basic and diluted share a year ago. Basic and diluted net loss per share of common stock attributable to company from continuing operations was $0.27 against $0.39 a year ago.
Regional Health Properties, Inc. is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care. The Companyâs primary business consists of acquiring and owning real estate property to be leased to third-party tenants in the healthcare sector. The Company operates through two segments: Real Estate and Healthcare Services. The Real Estate segment consists of owning and leasing/subleasing healthcare facilities, predominantly skilled nursing facilities (SNFs) and assisted living facilities (ALFs), to third-party tenants, which in turn operate the facilities. The Healthcare Services segment consists of operating healthcare facilities. The Companyâs portfolio of about 13 properties, across 12 facilities (one facility containing 2 co-located properties), 12 owned and one leased, comprising 1,300 licensed beds/units, is diversified across five states. Its portfolio is diversified by six licensed operators.