-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SK52wfX0IknbpaoQFBuU/PFKDIbFKCVbR6M/0xo2t5LXRed58sd1xowDwjShOTii AcNV1b+JjAJaauBAqxhH1Q== 0001047335-05-000087.txt : 20050802 0001047335-05-000087.hdr.sgml : 20050802 20050802131731 ACCESSION NUMBER: 0001047335-05-000087 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050801 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050802 DATE AS OF CHANGE: 20050802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL HEALTHCARE CORP CENTRAL INDEX KEY: 0001047335 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 522057472 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13489 FILM NUMBER: 05991025 BUSINESS ADDRESS: STREET 1: 100 VINE ST STREET 2: STE 1400 CITY: MURFREESBORO STATE: TN ZIP: 37130 BUSINESS PHONE: 6158902020 MAIL ADDRESS: STREET 1: 100 VINE ST STREET 2: STE 1400 CITY: MURFREESBORO STATE: TN ZIP: 37130 8-K 1 nhc8k605.htm SECOND QUARTER 2005 EARNINGS RELEASE
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 2, 2005 (August 2, 2005)

National HealthCare Corporation

(Exact name of Registrant as specified in its charter)

Delaware

001-13489

52-2057472

(State of Incorporation)

(Commission File No.)

(IRS Employer

Identification Number)

100 Vine Street

Murfreesboro, TN 37130

(Address of principal executive offices, including zip code)

(615) 890-2020

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)



Item 2.02 Results of Operations and Financial Condition.

On August 1, 2005, National HealthCare Corporation issued a press release announcing its 2005 second quarter results. A copy of the press release is filed as Exhibit 99 to this Current Report on Form 8-K and is incorporated by reference herein.





SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

National HealthCare Corporation
By: /s/ Robert G. Adams
Name: Robert G. Adams
Title: Chief Executive Officer
Date: August 2, 2005


Exhibit Index

Number Exhibit
99 Press release, dated August 1, 2005


Exhibit 99

For release: August 1, 2005

Contact: Gerald Coggin, Sr. V.P. Investor Relations

Phone: (615) 890-2020

NHC reports second quarter earnings up 23.5%

MURFREESBORO, Tenn. -- National HealthCare Corporation (AMEX: NHC), today announced net income for the quarter ended June 30 of $5,908,000 or 48 cents per basic share compared to $4,784,000 or 41 cents per basic share for the same period last year, an increase of 23.5% and 17.1%, respectively.

Net revenues for the quarter were $134,330,000 versus $122,737,000 for the same period a year earlier.

For the six months ended June 30, net income was up to $10,822,000 compared to $8,737,000 for the same period last year, an increase of 23.9%. Earnings per share for the six months rose to $.88 per basic share compared to $.75 per basic share, an increase of 17.3%. Net revenues for the six months ended June 30 climbed to $265,045,000 compared to $242,681,000 for 2004.

NHC provides services to 74 long-term health care centers with 9,177 beds. NHC also operates 31 homecare programs, six independent living centers and assisted living centers at 22 locations. NHC's other services include managed care specialty medical units, Alzheimer's units, hospice and a rehabilitation services company. In order to understand in all material respects the financial condition, results of operations and cash flows of NHC, the investor must review our most recent Form 10-Q quarterly report, Form 10-K annual report and press releases which are available on our web site at www.NHCcare.com.

Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. All forward-looking statements represent NHC's best judgment as of the date of this release.

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NHC reports second quarter earnings up 23.5%



Condensed Statements of Income
(in thousands except share and per share Three Months Ended June 30 Six Months Ended June 30
2005 2004 2005 2004
Revenues:
Net patient revenues $ 118,759 $ 107,262 $ 235,091 $ 213,960
Other revenues 15,571 15,475 29,954 28,721
Net revenues $ 134,330 $ 122,737 $ 265,045 $ 242,681
Costs and Expenses:
Salaries, wages and benefits $ 72,071 $ 66,053 $ 142,584 $ 132,042
Other operating 37,679 34,552 74,775 68,027
Writeoff of notes receivable --- --- 1,000 ---
Rent 10,855 10,429 20,811 20,918
Depreciation and amortization 3,728 3,380 7,442 6,444
Interest 378 290 808 543
Total costs and expenses $ 124,711 $ 114,704 $ 247,420 $ 227,974
Income Before Income Taxes 9,619 8,033 17,625 14,707
Income Tax Provisions (3,711) (3,249) (6,803) (5,970)
Net Income $ 5,908 $ 4,784 10,822 $ 8,737
Earnings Per Share:
Basic $ .48 $ .41 $ .88 $ .75
Diluted $ .46 $ .38 $ .85 $ .71
Weighted average common shares
Basic 12,240,890 11,671,786 12,235,437 11,667,794
Diluted 12,753,192 12,430,394 12,753,444 12,275,863
Balance Sheet Data June 30 December 31
(in thousands) 2005 2004
Cash, restricted cash and marketable $ 183,553 $ 168,721
Current assets 239,374 227,734
Total assets 385,575 373,117
Current liabilities 131,300 128,605
Long-term obligations 30,559 30,726
Deferred lease credits 5,053 5,452
Deferred income 27,597 25,112
Stockholder's equity 190,135 182,348

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