NHC Q4 drops 11%

Long-term health care provider National HealthCare Corp. earned a profit of $14.8 million in the fourth quarter, which was down almost 11 percent from the last three months of 2013. Revenues rose 9 percent to $226 million but costs rose a little bit faster and non-operating income fell almost $1.3 million year over year. NHC officials said that excluding that drop as well as operating losses from newly built or leased skilled nursing facilities would have left pre-tax profits up almost 4 percent. NHC shares (Ticker: NHC) closed last week at $63.17 and are flat year to date.

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