Wednesday, May 23, 2001, 3:30 EST
U.S. Physical Therapy doctors up its stock with a 3-for-2 split
During regular trading today, U.S. Physical Therapy, Inc.(Nasdaq: USPH) announced a 3-for-2 stock split that will be distributed on June 28, 2001, to all shareholders on record as of June 7, 2001.
USPH also announced today at the annual meeting of shareholders and quarterly meeting of directors, Roy Spradlin, President and Chief Executive Officer, was elected Chairman of the Board, succeeding J. Livingston Kosberg who will remain as a director and consultant to the Company.
USPH currently has 6.63 million shares outstanding, 1.50 million shares in the float, and 20.0 million shares authorized for issuance to the public. This is the company's second stock split; the last was a 2-for-1 effected on January 5, 2001.
U.S. Physical Therapy Inc. announced record earnings on May 2, 2001. The company press release stated that net income for the first quarter of 2001 rose 125% to $1,512,000, or $.18 per diluted share, compared to $671,000, or $.10 per diluted share, in the comparable period of the prior year. Net revenues for the first quarter of 2001 increased 28% to $18,930,000 from $14,822,000 in the comparable period in 2000.
USPH's stock is up +0.20 to $28.75 in recent mid-day trading. The 52-week trading range is $4.38 to $32.05 with the high made on May 17.
About the Company
U.S. Physical Therapy, Inc. operates outpatient physical and occupational therapy clinics that provide post-operative care and treatment for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically related injuries, rehabilitation of injured workers and preventative care. The clinics perform a tailored and comprehensive evaluation of each patient, which is followed by a treatment plan specific to the injury. (company press release)
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