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National Home Health Care Expansion Boosts Income
Scarsdale, N.Y. National Home Health Care Corp. posted big gains for the second quarter of fiscal 2000 ended Jan. 31, recording net income of $1.46 million, or 29 cents a share, compared with $85,000, or 2 cents a share, for the same quarter the year before.
The increase, company officials said, reflected National Home Health's expansion of its Connecticut operations, as well as a net gain on the sale of subsidiary stock of SunStar Healthcare. The company recently acquired certain assets of U.S. HomeCare Corp.'s Connecticut operations for an undisclosed sum.
"These results are attributable to the hard work and commitment to grow our business through market expansion and acquisitions despite the recent upheavals to home health care reimbursement," said Steven Fialkow, president and chief executive officer. "The company will continue to explore opportunities for increasing its market share in the New York tri-state region." -S.H.
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