Advocat ekes out Q1 profit

Nursing home operator Advocat posted a first-quarter profit from continuing operations of about $600,000, down from $4.6 million a year ago. Revenues rose about 3 percent, but costs jumped 11 percent.

Also of note: The company has received a $5 milion funding commitment from REIT Omega Healthcare Investors to continue its renovation plan and it has settled with the Centers for Medicare and Medicaid Services over accounting shortfalls at some of its Texas facilities.