Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information (Unaudited) [Abstract]

QUARTERLY FINANCIAL INFORMATION (Unaudited)

12. QUARTERLY FINANCIAL INFORMATION (Unaudited)

Selected quarterly financial information for each of the quarters in the years ended December 31, 2011 and 2010 is as follows:

	Quarter
2011	First			Second			Third			Fourth
Net revenues	$	77,130,000		$	79,172,000		$	80,644,000		$	77,769,000
Professional liability expense (1)		1,691,000			1,081,000			4,610,000			3,580,000
Net income (loss) from continuing operations		446,000			2,939,000			(873,000	)		(1,128,000	)
Loss from discontinued operations		(8,000	)		(2,000	)		—			(7,000	)
Net income (loss) for common stock	$	352,000		$	2,851,000		$	(959,000	)	$	(1,221,000	)
Basic net income per common share:
Net income (loss) from continuing operations	$	0.06		$	0.49		$	(0.17	)	$	(0.21	)
Loss from discontinued operations		—			—			—			—
Net income (loss) per common share	$	0.06		$	0.49		$	(0.17	)	$	(0.21	)
Diluted net income per common share:
Net income (loss) from continuing operations	$	0.06		$	0.48		$	(0.17	)	$	(0.21	)
Loss from discontinued operations		—			—			—			—
Net income (loss) per common share	$	0.06		$	0.48		$	(0.17	)	$	(0.21	)

⁽¹⁾  The Company’s quarterly results are significantly affected by the amounts recorded for professional liability expense, as discussed further in Note 11. The amount of expense recorded for professional liability in each quarter of 2011 is set forth in the table above.

	Quarter
2010	First		Second			Third			Fourth
Net revenues	$	70,152,000	$	71,492,000		$	72,996,000		$	75,490,000
Professional liability expense (1)		1,414,000		997,000			1,684,000			1,269,000
Net income from continuing operations		707,000		987,000			229,000			2,040,000
Income (loss) from discontinued operations ( 2 )		201,000		(10,000	)		(9,000	)		(296,000	)
Net income for common stock	$	822,000	$	891,000		$	134,000		$	1,658,000
Basic net income per common share:
Net income from continuing operations	$	0.11	$	0.16		$	0.02		$	0.34
Income (loss) from discontinued operations		0.03		—			—			(0.05	)
Net income (loss) per common share	$	0.14	$	0.16		$	0.02		$	0.29
Diluted net income per common share:
Net income from continuing operations	$	0.11	$	0.15		$	0.02		$	0.34
Income (loss) from discontinued operations		0.03		—			—			(0.05	)
Net income (loss) per common share	$	0.14	$	0.15		$	0.02		$	0.29

⁽¹⁾  The Company’s quarterly results are significantly affected by the amounts recorded for professional liability expense, as discussed further in Note 11. The amount of expense recorded for professional liability in each quarter of 2010 is set forth in the table above.

⁽²⁾  The loss from discontinued operations in the fourth quarter was the result of an impairment charge of $273,000 net of tax to reduce the carrying value of land held for sale in discontinued operations.