Through a series of operating subsidiaries, The Ensign Group provides a vast array of skilled nursing and assisted living services for both long and short-term patients. It also offers physical, occupational and speech therapies through over 60 facilities spread across California, Arizona, Texas, Washington, Utah and Idaho.
In the first three months of 2008, The Ensign Group’s total revenue was $113.8 million, up 16.1% compared to $98.0 million recorded during first quarter 2007. 3.2 million of those dollars were generated by facilities having only recently been acquired by the company.
First quarter net income reached an impressive $6.3 million or $0.31 per diluted share, as opposed to the corresponding quarter of 2007’s $4.1 million or $0.24 per diluted share. This represents a phenomenal increase of more than 53 percent in consolidated earnings.
“We are pleased with the first quarter performance of our operational leaders and their teams.” Commented CEO Chris Christensen, “We believe these results demonstrate the leverage inherent in our operating model, and provide a solid foundation to build on for the remainder of 2008 and beyond.”
The Ensign Group will be holding a conference-call/webcast at 2 p.m. eastern today (May, 8th), to discuss first quarter results in greater depth.
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