Community Psychiatric Centers in Santa Ana said its board of directors approved a 3-for-2 stock split in response to a rising stock price.
Additionally, the company, an operator of psychiatric hospitals and kidney dialysis centers, said fiscal 1987 third-quarter earnings increased 21%, to $15.5 million from $12.8 million in the year-earlier period. Revenues for the quarter ended Aug. 31 were $75.4 million, up 24% from $60.8 million in the same period last year.
For the first nine months of the fiscal year, earnings totaled $46.7 million, up 16.7% from $40 million. Revenues in the period increased 20.3% to $221.4 million, contrasted with $184 million.
Chairman Robert L. Green attributed the earnings gains to an increase in the number of patients and greater operating efficiency at the company's hospitals, which are located across the United States and in England.