Beverly Announce Earnings Expectations
by October 15, 2001 12:00 am 51 views
Beverly Enterprises Inc. officials expect earnings from operations, before special charges, of 13 cents a diluted share for the third quarter of 2001 and 14 cents for the fourth quarter. Each of the quarters will benefit from a reduction of $2.5 million (or about 1.5 cents a share) in depreciation and amortization expenses related to the sale of its 49 nursing homes and four assisted living facilities in Florida.
Net proceeds from the $165 million cash sale will be used primarily to repay debt.