1996 Earnings Up for Safeguard Health
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ANAHEIM — Safeguard Health Enterprises Inc. reported a 29% increase in earnings for 1996 on higher revenue.
The health care marketing company reported net income of $3.1 million, or 62 cents a share, for 1996, up from $2.4 million, or 51 cents a share, for 1995. Revenue rose 20% to $81.8 million from $68.4 million.
Net income for the fourth quarter declined 62% to $269,000, or 5 cents a share, from $704,000, or 15 cents a share, for the year-earlier period, primarily because of an increase in the estimated liability for claims processed through the company’s indemnity dental system. Revenue rose 27% to $23.2 million from $18.2 million last year.
The company announced during the fourth quarter that it had decided to discontinue its general dentist practices, while retaining its orthodontic practices. The company has restated earlier quarters to classify the general dental practices as discontinued operations, and to reflect an accounting change.
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