Ensign Group Reports Fourth Quarter 2010 Earnings Up on Higher Occupancy

The Ensign Group, Inc. (Nasdaq: ENSG) reported its fourth quarter earning saw its revenues and occupancy rise during the quarter to $172.8 million.  The company’s same store occupancy rose 194 basis points to 83.7% for the quarter and its consolidated net income rose 24.7% to $40.5 million for the year with $11.7 million in profits during the fourth quarter. The Ensign Group’s growth comes as a large result of the acquisition of eight long-term care facilities and a home health business in six separate transactions since January 1, 2010 bringing the total number of facilities in its portfolio to 85 facilities.  Ensign Group’s Board of Directors declared a quarterly cash dividend of $0.055 per share of Ensign common stock, an increase from the prior quarterly cash dividend of $0.05 per share.

"The kinds of acquisitions we’ve made this past year have tended more toward the strategic, as opposed to the opportunistic, which is what we usually do as market forces start to favor sellers. But we continue to see and seek both kinds of opportunities, and expect to continue acquiring both strategically and opportunistically, and always in a disciplined fashion," said Executive Vice President Greg Stapley.

For more information, visit the Ensign Group 10-K