Healthcare Services Group 3Q profit up 20 percent

Healthcare Services Group says third-quarter profit up 20 percent on improved revenue

Associated Press

BENSALEM, Pa. (AP) -- Healthcare Services Group Inc. reported Tuesday that its net income rose 20 percent in the third quarter as revenue grew.

The company, based in Bensalem, Pa., provides housekeeping, laundry and dietary services to health care facilities.

Healthcare Services earned $13.8 million, or 20 cents per share, for the quarter that ended Sept. 30. That is up from $11.5 million, or 17 cents per share, in the same quarter last year. Revenue rose 10 percent, to $298.5 million from $272.7 million.

Analysts polled by FactSet were anticipating earnings of 20 cents per share on revenue of $300.2 million.

Healthcare Services also said Tuesday that its board is increasing its quarterly dividend to 17 cents per share. Its most recent dividend, of 16.9 cents, was in August.

The new dividend is payable on Dec. 20 to shareholders on Nov. 15.

Healthcare Services shares fell 51 cents to close at $24.94 and were unchanged in after-hours trading.

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