NHC Reports Third Quarter Earnings

• Press Release
• Source: National HealthCare Corporation
• On 4:27 pm EST, Thursday November 5, 2009

MURFREESBORO, Tenn.--(BUSINESS WIRE)--National HealthCare Corporation (NYSE Amex: NHC)(NYSE Amex: NHC.PR.A), a publicly traded long-term health care company, today announced net income before taxes increased 11.9% to $18,071,000 for the quarter ended September 30, 2009 compared to $16,154,000 for the same period last year. Net income available to common stockholders was $10,175,000 for the quarter ended September 30, 2009 compared to $11,604,000 for the quarter ended September 30, 2008, a decrease of 12.3%. The decrease in net income available to common stockholders is due to a change in the income tax provision between the periods. The effective tax rate increased to 32% in the 2009 third quarter from an effective tax rate of 15% in the 2008 third quarter.

Related Quotes

Symbol	Price	Change
NHC	36.86	-0.39

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Revenues for the three months ended September 30, 2009 totaled $171,630,000 compared to $163,271,000 for the same three months of 2008, an increase of 5.1%. Net income was $.74 per basic common share for the quarter ended September 30, 2009 compared to $.91 per basic common share for the quarter ended September 30, 2008.

Recent accomplishments include the renewal of our $75,000,000 bank line of credit agreement and accreditation of our NHC Geriatric Clinical Residency Program by the American Physical Therapy Association.

NHC operates, through various subsidiaries, for itself and third parties, 76 long-term health care centers with 9,772 beds. NHC also operates, through subsidiaries, 33 homecare programs, seven independent living centers and 23 assisted living centers. NHC's other services include Alzheimer's units, long-term care pharmacies, hospice, a rehabilitation services company, and providing management and accounting services to third parties. Other information about the company can be found 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. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q and 10-K, and include, among others, the following: liabilities and other claims asserted against us and patient care liabilities, as well as the resolution of current litigation; availability of insurance and assets for indemnification; national and local economic conditions; including their effect on the availability and cost of labor, utilities and materials; the effect of government regulations and changes in regulations governing the healthcare industry, including our compliance with such regulations; changes in Medicare and Medicaid payment levels and methodologies and the application of such methodologies by the government and its fiscal intermediaries, the ability of third parties for whom we have guaranteed debt to refinance certain short term debt obligations; and other factors referenced or incorporated by reference in the S.E.C. filings. The risks included here are not exhaustive. All forward-looking statements represent NHC’s best judgment as of the date of this release.

National HealthCare Corporation
Gerald Coggin, Sr. VP of Corporate Relations, 615-890-2020