Beverly Enterprises: The Pasadena-based health-care company said...
From Times Staff and Wire Reports
Beverly Enterprises: The Pasadena-based health-care company said net income rose to $3.29 million in its second quarter, in contrast with a loss of $97.9 million in the 1989 period. Revenue slipped to $520.8 million from $523.6 million. Included in the 1989 results were pretax restructuring charges of $120 million. This year’s revenue decline was attributed to the sale of the firm’s nursing homes in Michigan and Iowa.
Citadel Holding Corp.: The Glendale-based parent of Fidelity Federal Bank reported second-quarter income of $6.8 million, up 79% from a year ago. The company attributed its strong showing mainly to lower interest rates that reduced its cost of funds.
