EXHIBIT 13.1
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SIX-YEAR FINANCIAL SUMMARY
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
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(YEAR ENDED DECEMBER 31, UNLESS NOTED) 2000 1999 1998 1997 1996(1) 1996(2)
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Consolidated statement of earnings data:
Operating revenues $452,374 $309,425 $207,416 $160,780 $119,856 $89,377
Operating earnings 44,189 29,922 23,331 18,980 12,717 10,276
Net earnings (3) 23,534 15,098 12,198 10,615 6,992 5,878
Net earnings per share (EPS): (3) (4)
Basic $1.62 $1.15 $.99 $.88 $.50 $.44
Diluted $1.45 $1.03 $.86 $.73 $.47 $.42
Weighted average shares outstanding (000s):(4)
Basic 14,563 13,144 12,368 11,998 13,914 13,450
Diluted 16,268 14,814 14,490 14,750 15,423 13,950
Consolidated balance sheet data:
Working capital $64,186 $27,069 $20,606 $12,793 $9,254 $11,818
Total assets 229,093 187,264 156,870 97,241 80,802 57,066
Total liabilities 111,133 109,481 96,714 57,481 31,132 18,169
Stockholders' equity 117,960 77,783 60,156 39,760 49,670 38,897
Financial statistics:
Operating margin 9.8% 9.7% 11.3% 11.8% 10.6% 11.5%
Net margin(5) 5.2% 5.1% 5.8% 6.1% 5.8% 6.6%
Current ratio 2.6:1 1.6:1 1.5:1 1.6:1 1.6:1 2.0:1
Diluted EPS growth rate (5) 34.3% 27.1% 25.9% 45.2% 14.8% 20.0%
Return on equity(5) (6) 24.0% 22.8% 24.1% 21.8% 16.1% 16.5%
Operating statistics:
Healthcare staffing:
Average number of branch offices (7) 88.6 54.9 16.1 N/A N/A N/A
Number of weeks worked (8) 223,951 131,110 52,265 29,652 21,908 N/A
Program management:
Inpatient units (acute rehabilitation
and skilled nursing):
Average number of programs 135.8 131.8 128.2 110.3 91.3 84.7
Average admissions per program 373 369 354 321 294 279
Average length of stay (billable) 14.2 14.3 14.5 15.0 15.9 17.3
Patient days (billable) 716,993 697,769 656,363 532,195 426,995 408,385
Outpatient programs:
Average number of locations 53.1 40.0 26.1 17.9 19.6 21.2
Patient visits 1,173,324 785,943 378,108 231,256 223,904 278,970
Contract therapy:
Average number of locations (9) 156.0 90.8 49.5 35.6 N/A N/A
(1) For comparability purposes, reflects the twelve months ended
December 31, 1996.
(2) Twelve month period ended last day of February.
(3) The results for 1999 include a pre-tax loss of $1.0 million ($0.6 million
after tax or $0.05 per share) on write-down of investments. The results for
1998 and 1997 include pre-tax gains of $1.5 million ($0.9 million after tax
or $0.06 per share) and $1.4 million ($0.9 million after tax or $0.06 per
share), respectively, from sales of marketable securities. In addition, the
results for 1998 include an $0.8 million ($0.05 per share) after-tax charge
for the cumulative effect of change in accounting for start-up costs.
(4) Share data adjusted for 3-for-2 stock split in October 1997 and 2-for-1
stock split in June 2000.
(5) Excludes write-down of investments, gains from sale of marketable securities
and charge for the cumulative effect of change in accounting principle
described in (3) above.
(6) Average of beginning and ending equity.
(7) We entered the per diem staffing business in August 1998 following the
acquisition of StarMed Staffing, Inc.
(8) Includes both per diem and travel weeks worked.
(9) We entered the contract therapy business in January 1997 following the
acquisition of Xxxxx Rehabilitation Services, Inc. and TeamRehab, Inc.
STOCK DATA
The Company's common stock is listed and traded on the New York Stock
Exchange under the symbol "RHB". The stock prices below are the high and low
closing sale prices per share of our common stock, as reported on the New
York Stock Exchange, for the periods indicated.
CALENDAR QUARTER 1ST 2ND 3RD 4TH
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2000 HIGH $13.97 $28.63 $43.38 $51.38
LOW 10.50 11.38 26.38 32.44
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1999 HIGH $11.06 $11.06 $10.66 $10.63
LOW 7.53 6.94 8.88 7.72
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The Company has not paid dividends on its common stock during the two most
recently completed fiscal years and has not declared any dividends during the
current fiscal year. The Company does not anticipate paying cash dividends in
the foreseeable future. The number of holders of the Company's common stock
as of February 27, 2001 was approximately 5,774, including 665 shareholders
of record and an estimated 5,109 persons or entities holding common stock in
nominee name.
Shareholders may receive earnings news releases, which provide timely
financial information, by notifying our investor relations department or by
visiting our website.
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