Beverly Enterprises Inc. Releases Second-Quarter Earnings

Beverly Enterprises Inc. of Fort Smith released its second-quarter earnings July 30, reporting revenue of $634.7 million for the quarter that ended June 30. That’s a loss of about $46 million, or 6.8 percent, when compared with the company’s 2001 revenue of $680.8 million.

The firm had charges during the second quarter that included $22.3 million for goodwill amoritization, $22.2 million for increased patient-liability reserves and $6.3 million for the pending setttlement of a lawsuit in California.

The charges contributed to the nursing home administrator reporting a second-quarter net loss of about $14 million or 13 cents a share.

n Beverly also reported that it is investigating possible Medicare overpayments to MK Medical, Beverly’s Fresno, Calif.-based home medical equipment business that had revenue of about $20 million last year.