****HCOR****RECORD EARNINGS ANNOUNCED TONIGHT
I just happen to run across this one tonight (03-11-97) while searching the business
wires...here's the story...
Company closed today at 8 1/2...it has kind of been going up and down between 13+
and 8+ for the past few months...lucky for me I found it tonight at 8 1/2 or it might not
have caught my attention...I think we will see a nearly $2 jump tomorrow...
Tonights announcement: HCOR sees record earnings of .66 per share for year ending
12/31/96....healthcare industry P/E is 22.4...stock price should be 14 3/4+...
But wait, it gets better...First Call Earnings Estimates for FY97 are at .86 per
share...this
company could very easily reach $20 by years end...
Company made 9 acquisitions within the past year, and may make more in
1997....adding further to revenues/earnings...
Current shares outstanding are 10+ million...I'm still not sure about float, but hope to
find
out soon....balance sheet looks good also...
Plain and simple, this company is under-valued...but I don't think it will be for long....
I just started a new thread on this company....enter HCOR in search box...
****NEWS RELEASE****
HEALTHCOR HOLDINGS ANNOUNCES RECORD RESULTS
EARNINGS PER SHARE INCREASE TO $0.66
DALLAS--(BUSINESS WIRE)--March 11, 1997-- Healthcor Holdings Inc today
announced record results for the fourth
quarter and year ended December 31, 1996.
S. Wayne Bazzle, Chairman and Chief Executive Officer of HealthCor Holdings, Inc.,
said, "Our performance in 1996, our
first year as a public company, has been gratifying. Our financial success is evidenced
by strong top line and bottom line growth. Internal growth of our for-profit sector,
almost 20% for the year, continues to be strong, and our acquisition
momentum is unparalleled in our history."
For the fourth quarter, revenues were $29.3 million (after a $1.4 million one-time
Medicare expense/revenue reversal relating
to the Company's Employee Stock Option Plan), up 21.8% from $24.0 million a year
ago. Earnings for the quarter totaled
$1.7 million, representing an increase of 38.2% from the prior year's earnings of $1.2
million. Due to common shares
increasing from 6.5 million to 10.2 million, per share income declined from $0.19 to
$0.17.
For the year ended December 31, 1996, revenues were $106.8 million, up 30.9%
from $81.6 million in the prior year. Net
income for 1996 totaled $5.3 million, or $0.66 per share, on 8.0 million average shares
outstanding, compared with net
earnings of $3.6 million, or $0.55 per share, on 6.5 million average shares outstanding
in the prior year, representing
increases of 48.8% and 20%, respectively.
During 1996, the Company completed nine acquisitions of home care companies.
These acquisitions, which added
approximately $35 million in annualized revenues, enabled the Company to enter new
markets, increase market penetration,
and expand services in existing markets. In closing, Mr. Bazzle said, "We continue to
believe that the key to our success in
the $36 billion burgeoning home care industry is our leadership in the area of
information services. We have already
introduced a hand-held point-of-care computer system for our nurses, home health
aides, pharmacists and respiratory
therapists. In addition, our emphasis on developing a medical information network
promises dramatic costs savings and vastly improved patient care."
HealthCor Holdings, Inc., is a leading provider of comprehensive home health care
services in the southwestern and central
United States. The Company provides fully integrated home health care services,
including nursing, respiratory
therapy/medical equipment and infusion therapy and operates 96 offices in nine states.
The Company is the leader in
developing clinically based management information systems which reduce costs,
improve productivity and provide outcomes
data.
HEALTHCOR HOLDINGS, INC.
Financial Highlights
(In thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
1996 1995 1996 1995
Revenues $ 29,309 $ 24,059 $ 106,785 $ 81,557
Net income 1,723 1,246 5,332 3,584
Net income per share 0.17 0.19 0.66 0.55
Average shares
outstanding 10,187 6,548 8,040 6,546
John |
