EX-13.1 4 tenk2007ex13-1.htm FINANCIAL SUMMARY tenk2007ex13-1.htm
EXHIBIT 13.1                  
 

SIX-YEAR FINANCIAL SUMMARY
                                              
Dollars in thousands, except per share data
                                              
(Year ended December 31,)
  
2007
      
2006
      
2005
      
2004
      
2003
      
2002
  
Consolidated statement of earnings data:
                                              
Operating revenues
$
711,674
    
$
614,793
    
$
454,266
    
$ 
383,846
    
$
539,322
    
$
562,565
  
Operating earnings (loss) (2)
  
26,969
      
20,955
      
33,267
      
41,804
      
(14,396)
      
39,697
  
Net earnings (loss) (2) (3)
  
12,659
      
7,280
      
(16,982)
      
23,181
      
(13,699)
      
24,395
  
Net earnings (loss) per share: (2) (3)
                                              
Basic
$
0.73
    
$
0.43
    
$
(1.01)
    
$ 
1.42
    
$
(0.86)
    
$
1.45
  
Diluted
$
0.73
    
$
0.42
    
$
(1.01)
    
$ 
1.38
    
$
(0.86)
    
$
1.38
  
Weighted average shares outstanding (000s):
                                              
Basic
  
17,226
      
17,008
      
16,751
      
16,292
      
16,000
      
16,833
  
Diluted
  
17,459
      
17,243
      
16,751
      
16,835
      
16,000
      
17,642
  
                                               
Consolidated balance sheet data:
                                              
Working capital
$
80,285
    
$
85,982
    
$
60,664
    
$ 
76,451
    
$
76,952
    
$
67,846
  
Total assets
  
408,560
      
428,296
      
272,925
      
277,666
      
233,626
      
235,530
  
Total liabilities
  
163,271
      
217,431
      
74,677
      
70,638
      
55,671
      
46,916
  
Stockholders’ equity
  
244,022
      
210,779
      
198,248
      
207,028
      
177,955
      
188,614
  
                                               
Financial statistics:
                                              
Operating margin (2)
  
3.8%
      
3.4%
      
7.3%
      
10.9%
      
(2.7)%
      
7.1%
  
Net margin (2) (3)
  
1.8%
      
1.2%
      
(3.7)%
      
6.0%
      
(2.5)%
      
4.3%
  
Current ratio
  
1.9:1
      
1.9:1
      
1.9:1
      
2.3:1
      
2.9:1
      
2.8:1
  
Diluted EPS growth rate (2) (3)
  
73.8%
      
141.6%
      
(173.2)%
      
260.5%
      
(162.3)%
      
19.0%
  
Return on equity (1) (2) (3)
  
5.6%
      
3.6%
      
(8.4)%
      
12.0%
      
(7.5)%
      
12.6%
  
                                               
Operating statistics:
                                              
Freestanding hospitals:
                                              
Number of locations at end of year (4)
  
9
      
8
      
5
      
N/A
      
N/A
      
N/A
  
Number of patient discharges (4)
  
5,718
      
3,891
      
1,110
      
N/A
      
N/A
      
N/A
  
Program management:
                                              
Inpatient units:
                                              
Average number of programs
  
127
      
137
      
145
      
142
      
133
      
135
  
Average admissions per program
  
363
      
360
      
372
      
383
      
422
      
411
  
Outpatient programs:
                                              
Average number of locations
  
35
      
41
      
42
      
42
      
48
      
55
  
Patient visits (000s)
  
1,006
      
1,130
      
1,146
      
1,133
      
1,248
      
1,366
  
Contract therapy:
                                              
Average number of locations (5)
  
1,125
      
1,018
      
749
      
588
      
460
      
378
  
                                               

(1)
Average of beginning and ending equity.
(2) The results for 2003 include a pretax loss on net assets held for sale of $43.6 million ($30.6 million after tax or $1.90 per diluted share). 
(3)
The results for 2005 include after tax losses on our equity investment in InteliStaf Holdings, Inc. of $36.5 million or $2.18 per diluted share.
(4)
We entered the freestanding hospitals business on August 1, 2005 with the acquisition of substantially all of the operating assets of MeadowBrook Healthcare, Inc.
(5)
Effective July 1, 2006, we acquired Symphony Health Services, LLC and its RehabWorks business, which added 470 contract therapy locations.

 
 
 





Stock Data

The Company’s common stock is listed and traded on the New York Stock Exchange under the symbol “RHB.”  The stock prices below are the high and low closing sale prices per share of our common stock, as reported on the New York Stock Exchange, for the periods indicated.

CALENDAR QUARTER
1st
2nd 
3rd
4th
2007
High
$16.20
$17.39 
$19.56
$23.10
 
Low
13.69
14.16 
13.71
17.36
2006
High
$20.90
$18.48 
$18.72
$15.50
 
Low
18.02
15.10 
12.94
11.68

The Company has not paid dividends on its common stock during the two most recently completed fiscal years and has not declared any dividends during the current fiscal year. The Company does not anticipate paying cash dividends in the foreseeable future.

The number of holders of the Company’s common stock as of March 3, 2008 was approximately 7,700 including 550 shareholders of record and an estimated 7,150 persons or entities holding common stock in nominee name.

Shareholders may receive earnings news releases, which provide timely financial information, by notifying our investor relations department or by visiting our website: http://www.rehabcare.com.