Healthcare Services Group, Inc. Announces First Quarter Earnings Release and Annual Meeting Dates
BENSALEM, Pa., April 15, 2019 (GLOBE NEWSWIRE) -- 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.
|Theodore Wahl||Matthew J. McKee|
|President and Chief Executive Officer||Chief Communications Officer|
Source: Healthcare Services Group, Inc.