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revenue: Revenues for the fourth quarter of 2023 decreased slightly to $38,001 from $38,144 in the fourth quarter of 2022.
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Net income: Increased from $6,641 in Q4 2022 to $8,858 in Q4 2023.
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Earnings per share (EPS): Diluted EPS increased to $0.36 in Q4 2023 compared to $0.27 in Q4 2022.
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dividend: announced that it will pay a quarterly cash dividend of $0.12 per share on April 15, 2024.
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Stock buyback: $55 million will be returned to shareholders through dividends and stock repurchases in 2023, with an additional $15 million to be repurchased in January 2024.
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Return on equity: Improved from 40% in 2022 to 51% in 2023.
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Debt status: Net debt was $30 million, with $30 million available under a revolving credit facility and $56 million available under a delayed draw facility as of December 31, 2023.
On February 13, 2024, National Research Corp (NASDAQ:NRC) released its 8-K filing, announcing its fourth quarter and full year 2023 financial results. National Research Corp., a leader in healthcare analytics and insights, made a small report. Although quarterly revenue decreased compared to the same period last year, net income and earnings per share showed improvement. The company's CEO, Michael Hayes, expressed satisfaction with the new sales and operating margin growth and emphasized the company's focus on customer needs and providing industry-leading solutions.
Performance and strategic focus
CEO Michael Hayes said the company's Net Promoter Score reached an all-time high of 75, reflecting high customer loyalty and satisfaction. Mr. Hayes also highlighted the company's strategic focus on expanding its leadership team and growth plans, with a particular emphasis on AI-enabled solutions to drive efficiency and customer value.
Chief Financial Officer Kevin Karas, who announced his retirement effective March 31, 2024, is committed to delivering four consecutive quarters of increased diluted earnings per share, disciplined cost management, and shareholder value through dividends and share repurchases. He also mentioned the company's financial results. Following Mr. Karas' retirement, Linda Stacey will be promoted to Chief Accounting Officer.
Financial highlights and capital allocation
The company's balance sheet remains strong, with an appropriate capital structure to support its growth and innovation efforts. The board announced quarterly cash dividends, reinforcing the company's commitment to shareholder returns. The company also remains focused on increasing revenue and expanding profit margins.
National Research Corp primarily operates in the United States and Canada, and derives the majority of its revenue from the United States market. The company's solutions are essential to healthcare providers and organizations seeking to improve patient and employee experiences, and the company's financial performance is particularly important in the context of the evolving healthcare industry.
“We believe we are in a strong position to expand human understanding across the entire experience lifecycle to recognize and respond to individuals as consumers, patients, and caregivers. We believe we are in a position to grow our share across our historic and expanded markets, while creating more.”We create opportunities for our employees and value for our shareholders. bring. ” – CEO Michael Hayes
Analysis of financial statements
The fourth quarter's income statement showed significant increases in net income and earnings per share, but sales were down slightly year over year. The balance sheet reflects a strong financial position with sufficient liquidity and manageable debt levels. The company's strategy to return capital to shareholders is evidenced by its strong return on equity and ongoing share repurchase program.
Overall, National Research Corp's financial results demonstrate that the company is effectively managing its resources while investing in growth and innovation. While changing the CFO role is an important milestone, the company appears to be developing a succession plan to ensure continuity of financial leadership.
For more detailed analysis and updates on National Research Corp's progress, visit GuruFocus.com for comprehensive financial data and expert commentary.
For more information, please see the full 8-K earnings release from National Research Corp here.
This article first appeared on GuruFocus.
