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Regency Health Reports Rise in 3rd-Quarter Net Income

Regency Health Services Inc., which operates health care facilities, reported third quarter net income of $4 million, or 22 cents a share. For the same period last year, the company had net income of $561,000, or 3 cents a share, including a charge of $3.5 million related to merger and restructuring expenses.

Revenue increased 15% to $107.5 million from $93.4 million.

For the nine-month period, net income was $8.9 million, or 51 cents a share, contrasted with a net loss of nearly $4 million, or 24 cents a share, for the same period last year. The 1994 figure included charges of $16.3 million related to merger and restructuring expenses and the earthquake in January, 1994. Revenue rose 8% to $304.8 million from $281.5 million.

South Coast Rehabilitation Services, which Regency acquired in July, contributed to the Tustin company’s growing revenue, said Richard K. Matros, president and chief executive officer.

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Regency operates 94 health care facilities with 9,180 beds in California, Ohio and West Virginia.


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