LTC Properties Inc, the Westlake Village real estate investment trust specializing in nursing homes and other health care properties, announced second quarter results Wednesday.
The company reported net income of $25.3 million (64 cents) for the 2017 second quarter compared with $22.1 million (58 cents) for the same period a year ago. LTC also reported funds from operations, a REIT metric, of $31.4 million (79 cents a share) for the second quarter, compared to FFO of $29.2 million (77 cents) for the same period a year ago. Revenue grew 6.1 percent to $42.5 million.
Analysts on average expected 55 cents on revenue of $35.2 million, according to Thomson Financial Network.
The company attributed its improved performance in the quarter to higher revenues from prior acquisitions, completed development projects and a net gain of $5.1 million on the sale of four nursing homes.
Shares of LTC (LTC) closed down 10 cents, or less than 1 percent, to $50.22 on the New York Stock Exchange.
Capstone Turbine Corp. lost more than $4 million during its fiscal first quarter of 2018, the company announced Wednesday.
The Chatsworth manufacturer of electricity-producing turbines reported a loss of $4.1 million (-10 cents a share) for the quarter ended June 30, compared to a loss of $4.5 million (-17 cents) in the same quarter a year ago. Revenue rose less than 1 percent to $19.2 million.
Analysts on average expected a loss of 11 cents on revenue of $21.6 million, according to Thomson Financial Network.
“You have three ways to drive profitability in a business: higher revenue, better margins and lower operating costs. At Capstone, we are employing all three of these strategies to help us reach profitability as quickly as possible,” Chief Executive Darren Jamison said in a statement.
Shares of Capstone (CPST) closed down 2 cents, or 2.3 percent, to 62 cents on the Nasdaq.