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AdCare Health Systems, Inc. Turns Profitable; Reports 2009 First Quarter Earnings Results
Date:5/18/2009

203 1,009,002 Accrued expenses 2,693,637 2,838,407 Total current liabilities 4,264,513 4,570,164 Notes payable and other debt, net of current portion 16,824,813 16,974,788 Notes payable to stockholder, net of current portion 32,594 34,626 Other liabilities 549,055 299,314 Income tax payable 180,649 170,007 Total liabilities 21,851,623 22,048,899 Stockholders' equity: Preferred stock, no par value; 500,000 shares authorized; no shares issued or outstanding - - Common stock and additional paid-in capital, no par value; 14,500,000 shares authorized; 3,786,129 shares issued and outstanding 14,790,692 14,766,967 Accumulated deficit (10,149,718) (10,245,532) Total stockholders' equity 4,640,974 4,521,435 Noncontrolling interest in subsidiaries 277,311 269,193 Total equity 4,918,285 4,790,628 Total liabilities and stockholders' equity $26,769,908 $26,839,527 ADCARE HEALTH SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) Three Months Ended March 31, 2009 2008 Revenues: Patient care revenues $5,916,835 $5,568,061
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SOURCE AdCare Health Systems, Inc.
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