AdCare Health Systems (ADK) Reports Q1 EPS of $0.12 on Revenues of $6.1M

AdCare Health Systems (NYSE: ADK) reported Q1 EPS of $0.12. Revenue for the quarter came in at $6.1 million, versus $0 reported last year.

Business Update

• Completed the purchase of an assisted living and memory care community with 106 operational beds located in Alabama for $5.5 million on May 1, 2017; commenced a long-term lease with an affiliate of C. Ross Management, LLC to lease the facility
• Achieved significant, sequential improvements in portfolio operating statistics
• Repaid remaining $1.0 million in aggregate principal amount outstanding of the Company\'s 10% convertible subordinated notes due April 30, 2017
• Named Allan J. Rimland as Chief Executive Officer
• Appointed Brian M. Szames, former Treasurer of Macy\'s, Inc., as an independent director

For earnings history and earnings-related data on AdCare Health Systems (ADK) click here.

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