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Biotech / Medical : Novacare (NOV) breaking out...
NOV 15.67+0.8%Dec 19 3:59 PM EST

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To: E. Graphs who wrote (155)10/28/1997 10:09:00 AM
From: Todd D. Wiener  Read Replies (1) of 420
 
Analysis from Q4 to Q1:

Rehab revs increased 6%, NCES revs increased 19%. Those are good numbers.

Gross profit increased 4% for rehab, 46% for NCES. Cost of sales were higher for rehab in Q1 than in Q4. Overall gross profit increased 6%.

SG&A increased 13.7% for rehab (oops!), 46% for NCES (good cost control). Overall SG&A increased 15.2%.

EBITDA DECREASED 7.3% for rehab (damn than overhead!), increased 45% for NCES. Overall EBITDA DECREASED 4.4%.

Operating income DECREASED 8.6%.

Pretax income DECREASED 14.6%.

Net income DECREASED 15.7%.

I'm not impressed.

Todd
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