1st Quarter Revenues Up 145% for Westworld Healthcare Inc.
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Rapid expansion has bolstered business for Westworld Community Healthcare Inc., which reported on Friday that its first quarter earnings and revenues had more than doubled from the same period last year.
The Lake Forest health care company said net income jumped to $892,000 for the quarter ended March 31, up 145% from $364,000 for 1984’s first quarter. During the same period, revenues climbed 138% to $23.6 million from $9.9 million a yea earlier.
Michael D. Dunn, chairman and chief executive of Westworld, said that “an unusually productive period” and continued expansion resulted in the company’s record earnings.
During the first quarter, Westworld acquired hospitals in Hubbard, Tex.; Jay, Okla., and Bowdie, S.D. Westworld now operates 31 rural medical care facilities in 12 states.
Bank of Anaheim Reports $131,000 Loss in 1st Quarter
The Bank of Anaheim, which opened last October, reported a loss of $131,000 for the first quarter of 1985. The bank also reported assets of $16.1 million, loans worth $8.8 million and deposits of $13.5 million, with a capital to assets ratio of 15.2%.
Bank officials said the first quarter loss comes from one-time start up costs and added that they expect the bank to become profitable by year end.
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