Healthcare Services Group Inc. (HCSG, Financial) filed Quarterly Report for the period ended 2010-09-30.
Healthcare Services Group Inc. has a market cap of $1.05 billion; its shares were traded at around $24.02 with a P/E ratio of 32.9 and P/S ratio of 1.5. The dividend yield of Healthcare Services Group Inc. stocks is 3.9%. Healthcare Services Group Inc. had an annual average earning growth of 20.2% over the past 10 years. GuruFocus rated Healthcare Services Group Inc. the business predictability rank of 4.5-star.HCSG is in the portfolios of Pioneer Investments, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
On May 1, 2009, we acquired essentially all of the assets of Contract Environmental Services, Inc. (CES), a South Carolina based corporation which is a provider of professional housekeeping, laundry and dietary department services to long-term care and related facilities. We believe the acquisition of CES expands and complements our position of being the largest provider of such services to long-term care and related facilities in the United States. The aggregate consideration was approximately $13,825,000 consisting of: (i) $4,613,000 in cash, (ii) a issuance of approximately 66,000 shares of our common stock (valued at approximately $1,183,000) future issuance of approximately 265,000 shares (valued at approximately $3,311,000) contingent upon the achievement of certain financial targets, and (iii) the repayment of approximately $4,718,000 of certain debt obligations of CES. The final allocation of such consideration resulted in our recording of the following: (i) approximately $8,998,000 of tangible assets consisting primarily of accounts receivable, (ii) $5,700,000 of amortizable intangible assets, (iii) $1,936,000 of goodwill and (iv) current liabilities of approximately $2,809,000. The CES results of operations are not included in our consolidated results of operations before May 1, 2009, which was prior to the closing of the transaction. Effective January 1, 2010, all of CES operations were fully integrated with our operations.
Consolidated revenues increased 9.1% to $195,114,000 for the three months ended September 30, 2010 compared to $178,829,000 for the three months ended September 30, 2009 as a result of the factors discussed below under Reportable Segments.
Consolidated revenues increased 12.1% to $571,868,000 in the nine month period ended September 30, 2010 compared to $510,134,000 in the same 2009 period as a result of the factors discussed below under Reportable Segments.
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Healthcare Services Group Inc. has a market cap of $1.05 billion; its shares were traded at around $24.02 with a P/E ratio of 32.9 and P/S ratio of 1.5. The dividend yield of Healthcare Services Group Inc. stocks is 3.9%. Healthcare Services Group Inc. had an annual average earning growth of 20.2% over the past 10 years. GuruFocus rated Healthcare Services Group Inc. the business predictability rank of 4.5-star.HCSG is in the portfolios of Pioneer Investments, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
We are organized into two reportable segments: housekeeping, laundry, linen and facility maintenance (Housekeeping), and dietary department services (Dietary). Housekeeping is being provided at all of our approximately 2,450 client facilities, generating approximately 77% or $441,783,000 of the nine month period ending September 30, 2010 total revenues. Dietary is being provided to approximately 350 client facilities and contributed approximately 23% or $130,085,000 to the nine month period ending September 30, 2010 total revenues.On May 1, 2009, we acquired essentially all of the assets of Contract Environmental Services, Inc. (CES), a South Carolina based corporation which is a provider of professional housekeeping, laundry and dietary department services to long-term care and related facilities. We believe the acquisition of CES expands and complements our position of being the largest provider of such services to long-term care and related facilities in the United States. The aggregate consideration was approximately $13,825,000 consisting of: (i) $4,613,000 in cash, (ii) a issuance of approximately 66,000 shares of our common stock (valued at approximately $1,183,000) future issuance of approximately 265,000 shares (valued at approximately $3,311,000) contingent upon the achievement of certain financial targets, and (iii) the repayment of approximately $4,718,000 of certain debt obligations of CES. The final allocation of such consideration resulted in our recording of the following: (i) approximately $8,998,000 of tangible assets consisting primarily of accounts receivable, (ii) $5,700,000 of amortizable intangible assets, (iii) $1,936,000 of goodwill and (iv) current liabilities of approximately $2,809,000. The CES results of operations are not included in our consolidated results of operations before May 1, 2009, which was prior to the closing of the transaction. Effective January 1, 2010, all of CES operations were fully integrated with our operations.
Consolidated revenues increased 9.1% to $195,114,000 for the three months ended September 30, 2010 compared to $178,829,000 for the three months ended September 30, 2009 as a result of the factors discussed below under Reportable Segments.
Consolidated revenues increased 12.1% to $571,868,000 in the nine month period ended September 30, 2010 compared to $510,134,000 in the same 2009 period as a result of the factors discussed below under Reportable Segments.
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