Allied Nursing Care Reports $706,877 Net Loss for Year

THE JOURNAL RECORD, August 8, 1986 | Go to article overview

Allied Nursing Care Reports $706,877 Net Loss for Year


A net loss of $706,877, or 15 cents per share, was reported Thursday for the fiscal year ended March 31 by Allied Nursing Care Inc., an Oklahoma City-based health care company.

The net loss compares to a net loss of $1.3 million, or 30 cents per share, the previous fiscal year. Revenues for the year totaled $1.76 million, down 32 percent from $2.59 million.

For the fourth quarter of the fiscal year, Allied Nursing reported a net loss of $352,777, or 7 cents per share, compared to a net loss of $677,400, or 15 cents per share. Revenues for the quarter totaled $576,893, down 30.1 percent from $825,600.

Fourth quarter results for the fiscal year include an addition of $66,000 to the company's allowance for doubtful accounts and a write-down of approximately $159,000 in the carrying value of intangible assets from its 1984 acquisition of Hospital Personnel Services Inc. from Medsource Corp. This wirte-down was in addition to a second quarter charge to operations of $75,000 which represented the cost of the negotiated settlement of a stock repurchase option granted Medsource.

The effect of these fourth quarter accounting changes on the results for the fiscal year was approximately 5 cents per share.

In the fourth quarter of the previous fiscal year, the company wrote off certain bad debt expenses and increased its allowance for doubtful accounts by $145,500, with a total effect on results of approximately 6 cents per share.

At March 31, 1986, the allowance for doubtful accounts amounted to $208,000, compared to $68,500 at March 31, 1985.

Results for the fiscal year reflect many of the actions the company has taken over the past two years to restructure its operations in line with current conditions and opportunities in the home health care market, according to Lyle R. Kelsey, president and chief executive officer.

"During the third quarter we sold the assets of our Dallas subsidiary for $65,000 cash, retaining approximately $325,000 in accounts receivable," Kelsey said. "We also sold all outstanding stock ofour Weatherford, Okla., subsidiary, Health Watch Inc. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Allied Nursing Care Reports $706,877 Net Loss for Year
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.