Post-acute provider Mariner Health Care, Atlanta, reported net income of $3.4 million, or 17 cents per share, for its second quarter ended June 30, compared with a loss of $1.7 million, or 8 cents per share, in the year-ago quarter. Revenue declined to $411.8 million from $426.6 million in the year-ago quarter, reflecting the divestiture of some facilities. At facilities currently owned or operated, revenue increased 9.4%, Mariner said. As of June 30, Mariner owned or operated 256 skilled-nursing facilities and 11 long-term acute-care hospitals. For the first half of 2004, Mariner earned $9.6 million, or 48 cents per share, on $817.9 million in revenue. That compared with net income of $1.1 million, or 5 cents per share, on $847.1 million in revenue in the year-ago period. Mariner expects to complete its merger with National Senior Care, Sparks, Md., in the fourth quarter. -- by Joseph Mantone
Profits up at merging post-acute firm Mariner
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