Healthcare Services Group, Inc. Announces First Quarter Earnings Release and Annual Meeting Dates
April 15 2019 - 1:39PM
Healthcare Services Group, Inc. (the “Company”) intends to release
its results for the quarter ended March 31, 2019 on Tuesday, April
30, 2019 after market close. In conjunction with its release, the
Company will host a conference call on Wednesday, May 1, 2019, at
8:30 a.m. Eastern Time to discuss its 2019 first quarter results.
The call may be accessed via phone at 800-893-5360. The call will
be simultaneously webcast under the “Events & Presentations”
section of the Investor Relations page on the Company’s website,
www.hcsg.com. A replay of the webcast will also be available
on the Company's website for one year following the date of
the earnings call.
The Company also announced that it will hold its
2019 Annual Meeting of Shareholders on Tuesday, May 28, 2019, at
10:00 a.m. Eastern Time at the Courtyard Philadelphia Bensalem,
located at 3280 Tillman Drive, Bensalem, PA 19020. Shareholders of
record as of the close of business on April 1, 2019 will be
entitled to receive notice of and to participate at the 2019 Annual
Meeting of Shareholders.
Cautionary Statement Regarding
Forward-Looking Statements
This release and any schedules incorporated by
reference into it may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, which are not historical facts but rather are
based on current expectations, estimates and projections about our
business and industry, and our beliefs and assumptions. Words such
as “believes,” “anticipates,” “plans,” “expects,” “will,” “goal,”
and similar expressions are intended to identify forward-looking
statements. The inclusion of forward-looking statements should not
be regarded as a representation by us that any of our plans will be
achieved. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. Such forward-looking
information is also subject to various risks and uncertainties.
Such risks and uncertainties include, but are not limited to, risks
arising from our providing services exclusively to the healthcare
industry, primarily providers of long-term care; having a
significant portion of our consolidated revenues contributed by one
customer during the year ended December 31, 2018; credit and
collection risks associated with the healthcare industry; our
claims experience related to workers’ compensation and general
liability insurance; the effects of changes in, or interpretations
of laws and regulations governing the healthcare industry, our
workforce and services provided, including state and local
regulations pertaining to the taxability of our services and other
labor-related matters such as minimum wage increases; the Company's
expectations with respect to selling, general, and administrative
expense; continued realization of tax benefits arising from our
corporate reorganization and self-funded health insurance program;
risks associated with the reorganization of our corporate
structure; realization of our expectations regarding the impact of
the Tax Cuts and Jobs Act on our tax rates and financial results;
and the risk factors described in Part I of our Form 10-K for the
fiscal year ended December 31, 2018 under “Government Regulation of
Clients,” “Service Agreements and Collections,” and "Competition;"
and under Item IA. “Risk Factors,” in such Form 10-K.
These factors, in addition to delays in payments
from clients and/or clients in bankruptcy or clients with which we
are in litigation to collect payment, have resulted in, and could
continue to result in, significant additional bad debts in the near
future. Additionally, our operating results would be adversely
affected if unexpected increases in the costs of labor and
labor-related costs, materials, supplies and equipment used in
performing services (including the impact of potential tariffs)
could not be passed on to our clients.
In addition, we believe that to improve our
financial performance we must continue to obtain service agreements
with new clients, retain and provide new services to existing
clients, achieve modest price increases on current service
agreements with existing clients and maintain internal cost
reduction strategies at our various operational levels.
Furthermore, we believe that our ability to sustain the internal
development of managerial personnel is an important factor
impacting future operating results and the successful execution of
our projected growth strategies.
Healthcare Services Group, Inc. is the largest
national provider of professional housekeeping, laundry and dietary
services to long-term care and related healthcare facilities.
Company Contacts: |
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Theodore Wahl |
|
Matthew J. McKee |
President and Chief Executive Officer |
|
Chief
Communications Officer |
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215-639-4274 |
investor-relations@hcsgcorp.com |
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