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AdCare Health Systems, Inc.
AdCare Health Systems, Inc. Turns Profitable; Reports 2009 First Quarter Earnings Results
June 5th, 2009
AdCare Health Systems, Inc. (NYSE Amex: ADK), an Ohio-based long-term care, home health care and management company, reported financial results for its first quarter of 2009. Revenues for the quarter ended March 31st, 2009 were $6,384,889 as compared to $5,992,542 for the same quarter in 2008, an increase of $392,347. The increase was primarily due to improved occupancy at its assisted living communities, an increase in Medicare patients at its nursing homes, and the acquisition of the Lincoln Lodge. Income from operations for the quarter ended March 31, 2009 was $403,926 as compared to $155,195 for the first quarter ended March 31, 2008, an increase...
Source: Health Business Week (2009-06-05)
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