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NHC Reports Year End EarningsNational HealthCare Corporation (NYSE American: NHC), the nation's oldest publicly traded senior health care company, announced today net operating revenues for the year ended December 31, 2017 totaled $966,996,000 compared to $926,638,000 for the year ended December 31, 2016, an increase of 4.4%. For the year ended December 31, 2017, net income attributable to NHC was $56,205,000 compared to $50,538,000 for the 2016 year, an increase of 11.2% and reflects the 2017 fourth quarter tax benefit adjustment of $8.5 million from the Tax Cuts and Jobs Act of 2017 (the "Tax Act"). Excluding the 2017 Tax Act adjustment and the operating losses from the two newly constructed skilled nursing facilities and three assisted living facilities placed in service in 2017 and 2016, net income attributable to NHC would have been $51,526,000 for the year ended December 31, 2017. Diluted earnings per share were $3.69 and $3.32 for the years ended December 31, 2017 and 2016, respectively, which is an increase of 11.1% and also reflects the positive 2017 Tax Act adjustment. Net operating revenues for the three months ended December 31, 2017 totaled $246,311,000 compared to $238,001,000 for the same three months in 2016, an increase of 3.5%. The fourth quarter of 2017 net income attributable to NHC was $21,470,000, or $1.41 per diluted share, which includes the $8.5 million Tax Act adjustment. In the fourth quarter of 2016, net income attributable to NHC was $13,863,000, or $0.91 per diluted share. Forward-Looking Statements Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q and 10-K, and include, among others, the following: liabilities and other claims asserted against us and patient care liabilities, as well as the resolution of current litigation; availability of insurance and assets for indemnification; national and local economic conditions; including their effect on the availability and cost of labor, utilities and materials; the effect of government regulations and changes in regulations governing the healthcare industry, including our compliance with such regulations; changes in Medicare and Medicaid payment levels and methodologies and the application of such methodologies by the government and its fiscal intermediaries; and other factors referenced or incorporated by reference in the S.E.C. filings. The risks included here are not exhaustive. All forward-looking statements represent NHC's best judgment as of the date of this release. About NHC NHC affiliates operate for themselves and third parties 76 skilled nursing facilities with 9,597 beds. NHC affiliates also operate 24 assisted living communities, five independent living communities, and 36 homecare programs. NHC's other services include Alzheimer's units, long-term care pharmacies, hospice, a rehabilitation services company, and providing management and accounting services to third parties. Other information about the company can be found on our web site at www.nhccare.com.
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