Community Psychiatric Reports $14.4 Million Net

Santa Ana-based Community Psychiatric Centers reported second-quarter net earnings of $14.4 million, up 18% from $12.15 million for the same quarter of fiscal 1985. The company had second-quarter revenues of $64.7 million, up 13% from $57.2 million.

The increase in earnings continued the company’s record of posting year-to-year net income gains in excess of 15% in each quarter of its 17-year history, Chairman Robert L. Green said.

Green attributed the earnings improvement in the 1986 second fiscal quarter, ended May 31, to the opening of several new facilities and an increase of 8% to 10% in prices at the company’s mental hospitals. Community Psychiatric operates several chains of mental hospitals, home-nursing services and dialysis centers.

For the first six months of its fiscal year, the company reported net earnings of $27.2 million, up nearly 18% from $23.1 million for the first half of fiscal 1985. Six-month revenues were $123.4 million, up 12% from $109.8 million.