Beverly Enterprises Reports $91M Loss
by March 3, 2003 12:00 am 60 views
The Fort Smith-based nursing home company, Beverly Enterprises, reported a $91 million loss or 87 cents per share diluted for the fourth quarter of 2002. Much better than the fourth-quarter loss in 2001 at $266.6 million or $4.56 per share diluted. The Feb. 20 report from the company pointed to a pre-tax charge of $76.1 million for asset impairment and a loss of $24.7 million from discontinued operations in 2002. Beverly has reportedly reached an agreement to pay off its debt by selling additional assets.
Revenue for the most recent quarter includes an increase in nursing home occupancy to 88.2 percent — the highest fourth-quarter level in four years.