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Health care industry

Wendt-Bristol Health Services Corporation Reports Second Quarter and Six Months 1995 Earnings

Strategic Insights

— 1 min read

The Wendt-Bristol Health Services Corporation reported a significant increase in earnings in the second quarter and six months of 1995 compared to the same periods in 1994. The company's 1995 second quarter produced a pre-tax income of $139,200 and net income of $94,200, while the six months period saw a pre-tax income of $83,900 and net income of $38,900. The addition of the Alzheimer's and related disorders facility in Columbus, Ohio, which opened in October 1994, is expected to positively impact the company's expansion, profit, and cash flows.

Key Takeaways:

  • The Wendt-Bristol Health Services Corporation's 1995 second quarter pre-tax income was $139,200, a significant increase from $86,000 in 1994.
  • The company's net income for the second quarter of 1995 was $94,200, or $.02 per share, compared to $32,000, or $.004 per share, in 1994.
  • The Alzheimer's and related disorders facility, which opened in October 1994, had initial costs of approximately $300,000 and $255,000 in 1994 and 1995, respectively.
  • Occupancy at the facility reached 95% in June, indicating a successful operational phase.
  • Excluding the impact of the Alzheimer's Center and non-recurring gains, the company's earnings before income taxes increased by approximately $200,000 in the six months period, bringing the 1995 earnings to approximately $250,000.
  • Management believes that the level of progress attained with the Alzheimer's Center is encouraging and consistent with the company's focused Health Care Services growth plan.

Statistics:

  • Pre-tax income for the second quarter of 1995: $139,200
  • Net income for the second quarter of 1995: $94,200
  • Pre-tax income for the six months period ended June 30, 1995: $83,900
  • Net income for the six months period ended June 30, 1995: $38,900
  • Initial costs for the Alzheimer's and related disorders facility: $300,000 in 1994 and $255,000 in 1995

Sources:

  • PRNewswire press release, August 14, 1995
  • Wendt-Bristol Health Services Corporation, 1995 second quarter and six months earnings report

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