HEALTHCARE SERVICES GROUP, INC. REPORTS RESULTS
FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2013
Bensalem, PA — February 4, 2014 — Healthcare Services Group, Inc. (NASDAQ:HCSG) reported that revenues for the three months ended December 31, 2013 increased approximately 10% to $303,833,000 compared to $277,039,000 for the same 2012 period. Revenues for the year ended December 31, 2013 increased approximately 7% to $1,149,890,000 compared to $1,077,435,000 for the same 2012 period.
Inclusive of the previously announced settlement-related costs, net income for the three months ended December 31, 2013 was $5,452,000 or $0.08 per basic and per diluted common share, compared to the three months ended December 31, 2012 net income of $12,798,000 or $0.19 per basic and per diluted common share. Net income for the year ended December 31, 2013 increased approximately 7% to $47,129,000 or $0.68 per basic and $0.67 per diluted common share, compared to the year ended December 31, 2012 net income of $44,214,000 or $0.65 per basic and per diluted common share.
As previously announced, on January 28th our Board of Directors declared a quarterly cash dividend of $0.17125 per common share, payable on March 28, 2014 to shareholders of record at the close of business on February 21, 2014. This represents the 43rd consecutive quarterly cash dividend payment, as well as the 42nd consecutive increase since our initiation of quarterly cash dividend payments in 2003. The Company also reported that it entered into housekeeping & laundry service agreements, to be phased in during the first quarter of 2014, which should return the segment to its historical double-digit growth rate. The Company expects the impact of these new service agreements to be fully reflected in the second quarter results.
The Company will host a conference call on Wednesday, February 5, 2014 at 8:30 a.m. Eastern Time to discuss its results for the three months and year ended December 31, 2013. The call may be accessed via phone at 800-893-5360. The call will be simultaneously webcast under the "Events & Presentations" section of the investor relations page on our website, www.hcsg.com. A replay of the webcast will also be available on our website through approximately 10:00 p.m. Eastern Time on Wednesday, February 5th.
The Company said that it will participate in the RBC Capital Markets 2014 Healthcare Conference on February 25th at The New York Palace Hotel in New York City.
The following information was filed by Healthcare Services Group Inc (HCSG) on Tuesday, February 4, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.