Omega Healthcare Investors, Inc (OHI) has reported 87.99 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $104.44 million, or $0.53 a share in the quarter, compared with $55.56 million, or $0.29 a share for the same period last year. Revenue during the quarter grew 8.86 percent to $231.74 million from $212.88 million in the previous year period.
Total expenses were $92.52 million for the quarter, down 20.48 percent or $23.82 million from year-ago period. Operating margin for the quarter expanded 1473 basis points over the previous year period to 60.08 percent.
Operating income for the quarter was $139.23 million, compared with $96.54 million in the previous year period.
Revenue from real estate activities during the quarter increased 8.35 percent or $16.04 million to $208.18 million.
Income from operating leases during the quarter rose 8.96 percent or $15.83 million to $192.54 million.
Revenue from other real estate activities during the quarter was $15.65 million, up 1.32 percent or $0.20 million from year-ago period.
Other income during the quarter was $23.56 million, up 13.63 percent or $2.83 million from year-ago period.
Receivables increase substantially
Net receivables were at $272.51 million as on Mar. 31, 2017, up 30.84 percent or $64.24 million from year-ago. Investments stood at $7,844.35 million as on Mar. 31, 2017, up 439.12 percent or $6,389.33 million from year-ago.
Total assets went up marginally by 2.63 percent or $226.67 million to $8,842.12 million on Mar. 31, 2017. On the other hand, total liabilities were at $4,627.60 million as on Mar. 31, 2017, up 1.42 percent or $64.68 million from year-ago.
Return on assets moved up 64 basis points to 1.77 percent in the quarter. At the same time, return on equity moved up 111 basis points to 2.48 percent in the quarter.
Debt moves up marginally
Total debt was at $4,300.86 million as on Mar. 31, 2017, up 1.94 percent or $81.67 million from year-ago. Shareholders equity stood at $4,214.52 million as on Mar. 31, 2017, up 4 percent or $161.99 million from year-ago. As a result, debt to equity ratio went down 2 basis points to 1.02 percent in the quarter.
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