HCSG » Topics » Revenues

These excerpts taken from the HCSG 10-K filed Feb 20, 2009.
Revenues
 
Consolidated
Consolidated revenues increased 4.3% to $602,718,000 in 2008 compared to $577,721,000 in 2007 as a result of the factors discussed below under Reportable Segments.
 
We have one client, a nursing home chain (“Major Client”), which in 2008 and 2007 accounted for 15% and 16%, respectively, of consolidated revenues. At both December 31, 2008 and 2007 amounts due from such client represented less than 1% of our accounts receivable balance. This client completed its previously announced merger on March 14, 2006. Our relationship with this successor entity remains under the same terms and conditions as established prior to the merger . Although we expect to continue the relationship with this client, there can be no assurance thereof, and the loss of such client, or a significant reduction in the revenues we receive from this client, would have a material adverse effect on the results of operations of our two operating segments. In addition, if such client changes its payment terms it would increase our accounts receivable balance and have a material adverse effect on our cash flows and cash and cash equivalents.
 
Reportable Segments
Housekeeping’s 4.5% net growth in reportable segment revenues resulted primarily from an increase in revenues attributable to service agreements entered into with new clients.
 
Food’s 4.9% net growth in reportable segment revenues is primarily a result of providing this service to an increasing number of existing Housekeeping clients.
 
We derived 14% and 17%, respectively, of Housekeeping and Food’s 2008 revenues from our Major Client.


21


 

 
Revenues


 




Consolidated





Consolidated revenues increased 4.3% to $602,718,000 in 2008
compared to $577,721,000 in 2007 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2008 and 2007 accounted for 15% and 16%,
respectively, of consolidated revenues. At both
December 31, 2008 and 2007 amounts due from such client
represented less than 1% of our accounts receivable balance.
This client completed its previously announced merger on
March 14, 2006. Our relationship with this successor entity
remains under the same terms and conditions as established prior
to the merger . Although we expect to continue the relationship
with this client, there can be no assurance thereof, and the
loss of such client, or a significant reduction in the revenues
we receive from this client, would have a material adverse
effect on the results of operations of our two operating
segments. In addition, if such client changes its payment terms
it would increase our accounts receivable balance and have a
material adverse effect on our cash flows and cash and cash
equivalents.


 




Reportable
Segments






Housekeeping’s 4.5% net growth in reportable segment
revenues resulted primarily from an increase in revenues
attributable to service agreements entered into with new clients.


 



Food’s 4.9% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients.


 



We derived 14% and 17%, respectively, of Housekeeping and
Food’s 2008 revenues from our Major Client.





21





 





 




Revenues


 




Consolidated





Consolidated revenues increased 4.3% to $602,718,000 in 2008
compared to $577,721,000 in 2007 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2008 and 2007 accounted for 15% and 16%,
respectively, of consolidated revenues. At both
December 31, 2008 and 2007 amounts due from such client
represented less than 1% of our accounts receivable balance.
This client completed its previously announced merger on
March 14, 2006. Our relationship with this successor entity
remains under the same terms and conditions as established prior
to the merger . Although we expect to continue the relationship
with this client, there can be no assurance thereof, and the
loss of such client, or a significant reduction in the revenues
we receive from this client, would have a material adverse
effect on the results of operations of our two operating
segments. In addition, if such client changes its payment terms
it would increase our accounts receivable balance and have a
material adverse effect on our cash flows and cash and cash
equivalents.


 




Reportable
Segments






Housekeeping’s 4.5% net growth in reportable segment
revenues resulted primarily from an increase in revenues
attributable to service agreements entered into with new clients.


 



Food’s 4.9% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients.


 



We derived 14% and 17%, respectively, of Housekeeping and
Food’s 2008 revenues from our Major Client.





21





 





 




Revenues


 




Consolidated





Consolidated revenues increased 4.3% to $602,718,000 in 2008
compared to $577,721,000 in 2007 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2008 and 2007 accounted for 15% and 16%,
respectively, of consolidated revenues. At both
December 31, 2008 and 2007 amounts due from such client
represented less than 1% of our accounts receivable balance.
This client completed its previously announced merger on
March 14, 2006. Our relationship with this successor entity
remains under the same terms and conditions as established prior
to the merger . Although we expect to continue the relationship
with this client, there can be no assurance thereof, and the
loss of such client, or a significant reduction in the revenues
we receive from this client, would have a material adverse
effect on the results of operations of our two operating
segments. In addition, if such client changes its payment terms
it would increase our accounts receivable balance and have a
material adverse effect on our cash flows and cash and cash
equivalents.


 




Reportable
Segments






Housekeeping’s 4.5% net growth in reportable segment
revenues resulted primarily from an increase in revenues
attributable to service agreements entered into with new clients.


 



Food’s 4.9% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients.


 



We derived 14% and 17%, respectively, of Housekeeping and
Food’s 2008 revenues from our Major Client.





21





 





 




Revenues
 
Consolidated
Consolidated revenues increased 12.9% to $577,721,000 in 2007 compared to $511,631,000 in 2006 as a result of the factors discussed below under Reportable Segments.
 
We have one client, a nursing home chain (“Major Client”), which in 2007 and 2006 accounted for 16% and 18%, respectively, of consolidated revenues. At both December 31, 2007 and 2006 amounts due from such client represented


24


 

less than 1% of our accounts receivable balance. This client completed its previously announced merger on March 14, 2006. Our relationship with this successor entity remains under the same terms and conditions as established prior to the merger . Although we expect to continue the relationship with this client, there can be no assurance thereof, and the loss of such client, or a significant reduction in the revenues we receive from this client, would have a material adverse effect on the results of operations of our two operating segments. In addition, if such client changes its payment terms it would increase our accounts receivable balance and have a material adverse effect on our cash flows and cash and cash equivalents.
 
Reportable Segments
Housekeeping’s 13.5% net growth in reportable segment revenues resulted primarily from an increase of 7.6% attributable to service agreements entered into with new clients and a 5.9% increase in revenues related to the Summit acquisition.
 
Food’s 8.5% net growth in reportable segment revenues is primarily a result of providing this service to an increasing number of existing Housekeeping clients. The Summit acquisition accounted for 1.5% of the increase.
 
We derived 15% and 21%, respectively, of Housekeeping and Food’s 2007 revenues from our Major Client.
 
Revenues


 




Consolidated





Consolidated revenues increased 12.9% to $577,721,000 in 2007
compared to $511,631,000 in 2006 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2007 and 2006 accounted for 16% and 18%,
respectively, of consolidated revenues. At both
December 31, 2007 and 2006 amounts due from such client
represented





24





 






less than 1% of our accounts receivable balance. This client
completed its previously announced merger on March 14,
2006. Our relationship with this successor entity remains under
the same terms and conditions as established prior to the merger
. Although we expect to continue the relationship with this
client, there can be no assurance thereof, and the loss of such
client, or a significant reduction in the revenues we receive
from this client, would have a material adverse effect on the
results of operations of our two operating segments. In
addition, if such client changes its payment terms it would
increase our accounts receivable balance and have a material
adverse effect on our cash flows and cash and cash equivalents.


 




Reportable
Segments






Housekeeping’s 13.5% net growth in reportable segment
revenues resulted primarily from an increase of 7.6%
attributable to service agreements entered into with new clients
and a 5.9% increase in revenues related to the Summit
acquisition.


 



Food’s 8.5% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients. The Summit acquisition
accounted for 1.5% of the increase.


 



We derived 15% and 21%, respectively, of Housekeeping and
Food’s 2007 revenues from our Major Client.


 




Revenues


 




Consolidated





Consolidated revenues increased 12.9% to $577,721,000 in 2007
compared to $511,631,000 in 2006 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2007 and 2006 accounted for 16% and 18%,
respectively, of consolidated revenues. At both
December 31, 2007 and 2006 amounts due from such client
represented





24





 






less than 1% of our accounts receivable balance. This client
completed its previously announced merger on March 14,
2006. Our relationship with this successor entity remains under
the same terms and conditions as established prior to the merger
. Although we expect to continue the relationship with this
client, there can be no assurance thereof, and the loss of such
client, or a significant reduction in the revenues we receive
from this client, would have a material adverse effect on the
results of operations of our two operating segments. In
addition, if such client changes its payment terms it would
increase our accounts receivable balance and have a material
adverse effect on our cash flows and cash and cash equivalents.


 




Reportable
Segments






Housekeeping’s 13.5% net growth in reportable segment
revenues resulted primarily from an increase of 7.6%
attributable to service agreements entered into with new clients
and a 5.9% increase in revenues related to the Summit
acquisition.


 



Food’s 8.5% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients. The Summit acquisition
accounted for 1.5% of the increase.


 



We derived 15% and 21%, respectively, of Housekeeping and
Food’s 2007 revenues from our Major Client.


 




Revenues


 




Consolidated





Consolidated revenues increased 12.9% to $577,721,000 in 2007
compared to $511,631,000 in 2006 as a result of the factors
discussed below under Reportable Segments.


 



We have one client, a nursing home chain (“Major
Client”), which in 2007 and 2006 accounted for 16% and 18%,
respectively, of consolidated revenues. At both
December 31, 2007 and 2006 amounts due from such client
represented





24





 






less than 1% of our accounts receivable balance. This client
completed its previously announced merger on March 14,
2006. Our relationship with this successor entity remains under
the same terms and conditions as established prior to the merger
. Although we expect to continue the relationship with this
client, there can be no assurance thereof, and the loss of such
client, or a significant reduction in the revenues we receive
from this client, would have a material adverse effect on the
results of operations of our two operating segments. In
addition, if such client changes its payment terms it would
increase our accounts receivable balance and have a material
adverse effect on our cash flows and cash and cash equivalents.


 




Reportable
Segments






Housekeeping’s 13.5% net growth in reportable segment
revenues resulted primarily from an increase of 7.6%
attributable to service agreements entered into with new clients
and a 5.9% increase in revenues related to the Summit
acquisition.


 



Food’s 8.5% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients. The Summit acquisition
accounted for 1.5% of the increase.


 



We derived 15% and 21%, respectively, of Housekeeping and
Food’s 2007 revenues from our Major Client.


 




These excerpts taken from the HCSG 10-K filed Feb 19, 2008.
Revenues
 
Consolidated
Consolidated revenues increased 9.7% to $511,631,000 in 2006 compared to $466,291,000 in 2005 as a result of the factors discussed below under Reportable Segments.
 
Revenues from our Major Client accounted for 18% and 19%, of consolidated revenues in 2006 and 2005, respectively. At both December 31, 2006 and 2005 amounts due from such client represented less than 1% of our accounts receivable balance.
 
Reportable Segments
Housekeeping’s 9.9% net growth in reportable segment revenues resulted primarily from an increase of 6.0% attributable to service agreements entered into with new clients and a 3.9% increase in revenues related to the Summit acquisition.


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Table of Contents

Food’s 9.2% net growth in reportable segment revenues is primarily a result of providing this service to an increasing number of existing Housekeeping clients. The Summit acquisition accounted for 1.3% of the increase.
 
We derived 16% and 26%, respectively, of Housekeeping and Food’s 2006 revenues from our Major Client.
 
Revenues


 




Consolidated





Consolidated revenues increased 9.7% to $511,631,000 in 2006
compared to $466,291,000 in 2005 as a result of the factors
discussed below under Reportable Segments.


 



Revenues from our Major Client accounted for 18% and 19%, of
consolidated revenues in 2006 and 2005, respectively. At both
December 31, 2006 and 2005 amounts due from such client
represented less than 1% of our accounts receivable balance.


 




Reportable
Segments






Housekeeping’s 9.9% net growth in reportable segment
revenues resulted primarily from an increase of 6.0%
attributable to service agreements entered into with new clients
and a 3.9% increase in revenues related to the Summit
acquisition.





20





Table of Contents






Food’s 9.2% net growth in reportable segment revenues is
primarily a result of providing this service to an increasing
number of existing Housekeeping clients. The Summit acquisition
accounted for 1.3% of the increase.


 



We derived 16% and 26%, respectively, of Housekeeping and
Food’s 2006 revenues from our Major Client.


 




This excerpt taken from the HCSG 10-K filed Feb 23, 2007.
Revenues
 
Consolidated
Consolidated revenues increased 5.4% to $466,291,000 in 2005 compared to $442,568,000 in 2004 as a result of the factors discussed below under Reportable Segments.
 
Our Major Client accounted for 19% and 20% of consolidated revenues in 2005 and 2004, respectively. At both December 31, 2005 and 2004 amounts due from such client represented less than 1% of our accounts receivable balance.
 
Reportable Segments
Housekeeping’s 4.9% net growth in reportable segment revenues is primarily a result of an increase in service agreements entered into with new clients.
 
Food’s 6.4% net growth in reportable segment revenues is a result of providing this service to an increasing number of existing Housekeeping clients.
 
We derived 18% and 27%, respectively, of Housekeeping and Food’s 2005 revenues from our Major Client.


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Table of Contents

 
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