National Medical Enterprises Inc. said net income...
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National Medical Enterprises Inc. said net income for fiscal 1988 surged to $147.6 million from $63.5 million a year ago. Net operating revenue rose 11% to $3.2 billion. Income from continuing operations climbed 21% to $170.1 million. At the end of its 1987 fiscal year, Los Angeles-based NME announced plans to sell several of its non-institutional businesses, resulting in an estimated loss from discontinued operations of $77 million. In fiscal 1988, the company incurred an additional charge of $22.5 million related to the disposition of these businesses.
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