NHHC National Home Health Care Co (MM)

National Home Health Care Corp. (National Market:NHHC), a provider of home health care and staffing services in the Northeast, today reported results for the quarter and fiscal year ended July 31, 2006. Net patient revenue for the quarter ended July 31, 2006 was $25,342,000, a decrease of $529,000, or 2.0% from $25,871,000 for the quarter ended July 31, 2005. Net income for the quarter ended July 31, 2006 was $900,000, or $.16 per diluted share, an increase of $308,000, or 52% from $592,000, or $.10 per diluted share, for the quarter ended July 31, 2005. Net patient revenue for the fiscal year ended July 31, 2006 was $102,365,000, an increase of $3,904,000, or 4.0% from $98,461,000 for the fiscal year ended July 31, 2005. Net income for the fiscal year ended July 31, 2006 was $3,655,000, or $.64 per diluted share, an increase of $88,000, or 2.5% from $3,567,000, or $.62 per diluted share, for the fiscal year ended July 31, 2005. STATEMENT OF OPERATIONS DATA: � Quarter Ended July 31, Fiscal Year Ended July 31, 2006� 2005� 2006� 2005� ---------------- ---------------- ---------------- ---------------- � Revenues $25,342,000� $25,871,000� $102,365,000� $98,461,000� � Operating expenses 24,003,000� 25,073,000� 96,821,000� 93,090,000� � Income from operations 1,339,000� 798,000� 5,544,000� 5,371,000� � Other income: Interest income 186,000� 82,000� 531,000� 275,000� � Income before taxes 1,525,000� 880,000� 6,075,000� 5,646,000� � Provision for income taxes 625,000� 288,000� 2,420,000� 2,079,000� � Net income 900,000� 592,000� 3,655,000� 3,567,000� � Earnings per share - diluted $0.16� $0.10� $0.64� $0.62� � Weighted average shares - diluted 5,737,368� 5,749,550� 5,741,370� 5,732,842� � Dividends declared per share $0.075� $0.075� $0.30� $0.30� BALANCE SHEET DATA: July 31, 2006� 2005� ---------------- ---------------- � Cash and cash equivalents $19,301,000� $16,184,000� � Total current assets 39,389,000� 37,407,000� � Total assets 57,219,000� 55,600,000� � Total current liabilities 4,356,000� 4,678,000� � Non-current liabilities - - -� - - -� � Stockholders' equity 52,863,000� 50,922,000� National Home Health Care Corp. (National Market:NHHC), a provider of home health care and staffing services in the Northeast, today reported results for the quarter and fiscal year ended July 31, 2006. Net patient revenue for the quarter ended July 31, 2006 was $25,342,000, a decrease of $529,000, or 2.0% from $25,871,000 for the quarter ended July 31, 2005. Net income for the quarter ended July 31, 2006 was $900,000, or $.16 per diluted share, an increase of $308,000, or 52% from $592,000, or $.10 per diluted share, for the quarter ended July 31, 2005. Net patient revenue for the fiscal year ended July 31, 2006 was $102,365,000, an increase of $3,904,000, or 4.0% from $98,461,000 for the fiscal year ended July 31, 2005. Net income for the fiscal year ended July 31, 2006 was $3,655,000, or $.64 per diluted share, an increase of $88,000, or 2.5% from $3,567,000, or $.62 per diluted share, for the fiscal year ended July 31, 2005. -0- *T STATEMENT OF OPERATIONS DATA: Quarter Ended July 31, Fiscal Year Ended July 31, 2006 2005 2006 2005 ------------ ------------ ------------- ------------ Revenues $25,342,000 $25,871,000 $102,365,000 $98,461,000 Operating expenses 24,003,000 25,073,000 96,821,000 93,090,000 Income from operations 1,339,000 798,000 5,544,000 5,371,000 Other income: Interest income 186,000 82,000 531,000 275,000 Income before taxes 1,525,000 880,000 6,075,000 5,646,000 Provision for income taxes 625,000 288,000 2,420,000 2,079,000 Net income 900,000 592,000 3,655,000 3,567,000 Earnings per share - diluted $0.16 $0.10 $0.64 $0.62 Weighted average shares - diluted 5,737,368 5,749,550 5,741,370 5,732,842 Dividends declared per share $0.075 $0.075 $0.30 $0.30 *T -0- *T BALANCE SHEET DATA: July 31, 2006 2005 -------------- --------------- Cash and cash equivalents $19,301,000 $16,184,000 Total current assets 39,389,000 37,407,000 Total assets 57,219,000 55,600,000 Total current liabilities 4,356,000 4,678,000 Non-current liabilities - - - - - - Stockholders' equity 52,863,000 50,922,000 *T