Healthcare Services says revenues up, income down

Healthcare Services Group Inc. reported that revenues for the three months ended June 30 increased 4 percent, to $147,918,000 compared with $142,907,000 for second quarter in 2007.

The Bensalem company, which provides housekeeping and food services to nursing homes, retirement complexes, rehab centers, and hospitals in the United States and Canada, said that net income for this year's second quarter was $6,953,000, or $0.16 per share, compared with net income of $7,524,000 or $0.17 per diluted common share, last year.

Revenues for the first six months of the year increased 4 percent, to $295,177,000, compared with $284,074,000 for the same 2007 period. Net income for the six months of 2008 was $13,810,000, or $0.31 per diluted common share compared to the 2007 six month period net income of $14,974,000 or $0.34 per common share.

The board of directors has declared a second-quarter 2008 cash dividend of $0.15 per share, payable Aug. 8 to shareholders as of July 25. The company said this represented a 36 percent increase over the 2007 same-period payment.