The Los Angeles Times from Los Angeles, California • Page 108

C6 WEDNESDAY, MARCH 31, 1999 LOS ANGELES TIMES Business News Desk (714) 966-5951 Business News faxes (714J96MS62 Mailing Address Business Editor The Times Orange County 1375 Sunflower Ave. Costa Mesa, CA 92626 Business Editor RUSS STANTON, (714)966-5609 russ.stantonlatimes.com Assistant Business Editor TOM SELLERS, (714)966-7898 tom.sellerslatimes.com jmysi yiiioi Injured Disneyland Worker Breaking Loss Streak, Apria Sees Stock Soar Apria Looks Healthier After four consecutive losing quarters, Apria Healthcare broke into the black in the fourth quarter last year. The improved financial results helped boost the company's stock, which closed at $10.94. Hopes to Remain With Park Earnings In millions Sales In millions Christine Carpenter, the Disneyland assistant manager hurt in the Christmas Eve accident that killed a tourist, has undergone nine operations to repair damage to her left foot, her mother said. Carpenter, who turns 31 today, is getting around on crutches and speaks of returning to work at the park, perhaps in special events, according to Walt Disney Co.

spokesman Ray Gomez and Parnpntpr's friends Thp first I i. sf -v priority, though, is an upcoming 10th ff JaI surgery, her mother, Susan 14 Caroenter.said. 100 V7 -150 50 i -200 1 1 1 1 1 -250 3rd 4th la 2nd 3rd 4tfi 3nj 4th 1st 2nd 3rd 4th Quarter i Quarter 1997 1998 i 1997 1998 Closing Prices 1 J. SoStL'12 2 I I I I I I I I I I I I I I I I I I I 1 I I I I I I ii Markets: Shares in the Costa Mesa health services company leap 32 as it posts a profit. From Times Wire Services Apria Healthcare Group stock surged 32 Tuesday, one of the biggest percentage gains in U.S.

markets, after the struggling provider of home health-care services posted a quarterly profit for the first time in more than a year. Apria's stock rose $2.63, to $10.94, on the New York Stock Exchange in trading of 1.8 million shares, nearly five times the daily average over the last three months. The Costa Mesa-based company said it earned $2.3 million, or 4 cents a share, in the fourth quarter, compared with a loss of $238.2 million, or $4.62 a share, for the same quarter in 1997. The profit surpassed the 1 cent a share estimated by analysts in a First Call Corp. survey.

It was the first time the company recorded a quarterly profit since the third quarter in 1997. Revenue dropped 16, to $223.3 million, from $266.7 million. Apria attributed the decline to its ongoing move to shed unprofitable operations. As a result of Apria's improved performance, and because of improved capital markets, the company said it will not proceed with plans for a $50-million offering of convertible notes announced in November. Apria said in a statement that it will seek the $50 million through other means "on terms more favorable to the company." For the year, Apria lost $207.9 million, or $4.02 a share, compared with a loss of $272.6 million, or $5.30 a share, for 1997.

Revenue declined 22, to $933.8 million, from $1.2 billion. In the third quarter, Apria took a $160-million charge in a move to clean up its financial books. The one-time charge stemmed from a corporate restructuring announced last summer. 2 9 16 23 30 6 13 20 27 4 11 18 25 1 8 15 22 29 5 12 19 26 5 12 19 26 (Jarpenter mother expressed vindication last week over a CalOSHA report blaming inadequate training for the accident. Fining Disneyland $12,500, officials said Christine Carpenter never received hands-on instruction in docking the 18th century sailing ship replica Columbia.

Luan Phi Dawson of Duvall, was killed and his wife injured Mar. Dec. Jan. Feb. Nov.

Oct 1999 1998 Source: Bloomberg News HEARD ON THE BEAT TOURISM By E. Scott Reckard DORIS SHIELDSLos Angeles Times The loss of revenue was not expected to push the company back into the red, Apria said. If current trends continue, the company said, its first-quarter profit should total at least 25 cents per share, much higher than the 4 cents a share estimated by In addition to pulling out of money-losing operations, the company has cut expenses. During the year, it also moved to expand its business of providing respiratory therapy to patients in their homes. In January, Apria absorbed a 5 cut in the amount Medicare would reimburse for oxygen treatments.

ORANGE COUNTY BRIEFLY Mission Viejo Mall Names New Names, Its Own Included Retail: After renovation it will have 47 new tenants and be The Shops at Mission Viejo. dropped 31 cents Tuesday to close at $4.44. "It should be pretty obvious from the history of Quality Systems' financial and stock performance what a board lacking in independence and diligence can bring," said Andrew Shapiro, president of Lawndale Capital. Sheldon Razin, chairman and chief executive of Quality Systems, said he hadn't yet had a chance to read the shareholder proposal. Under the Lawndale plan, the chairman would have to be an independent leader elected by the other independent directors.

The proposal "would obviously knock Shelly off the chairmanship, his wife off the board" and would "raise questions regarding Dr. John Bowers, who has been a longstanding customer of the company," said Shapiro. The shareholder proposal defines an independent director as someone without familial ties to company officers, or who hasn't had a financial relationship with Quality Systems over the last five years "other than as a director or shareholder." Lawndale and Shapiro requested that the proposal be included in proxy materials for Quality Systems' annual meeting, expected to be held in September. Please see BRIEFLY, C7 of the Quality Systems board, including its chairman, would have to be independent directors. These directors would be required to meet separately from the other directors after every board meeting to discuss "matters as they deem appropriate," according to a Securities and Exchange Commission filing by Lawndale.

Quality Systems is a developer and provider of management software for medical and dental group practices. Its shares, which have fallen 40 over the last year, when Carpenter slung a line over a metal mooring cleat as the Columbia approached its dock too fast. The cleat tore loose from the ship, breaking Carpenter's ankle before flying into a crowd and striking the tourists. In a statement to investigators, Carpenter said she trained on the Mark Twain paddle wheeler, which, like Columbia, cruises Disneyland's Rivers of America section. During the training last October, she initialed a checklist saying she knew the docking procedures for both boats.

But she said she never actually worked with the Columbia during training, and CalOSHA determined the ship was out of service the day she trained on the Mark Twain. Indeed, Carpenter said the day of the accident was the first time she ever tried to dock the Columbia without help from co-workers. In her statement, Carpenter repeatedly said she believed the ship was approaching at a safe speed. The family declined to elaborate further on the accident and its aftermath. "She's not ready to talk about it yet," her mother said.

Thrill-Seekers Flock to Knott's New Ride Roller-coaster aficionados from around the country are putting Buena Park on their destination list. Their goal: the ups and downs of GhostRider, the wooden coaster that opened last December at Knott's Berry Farm, which has been rated highly in surveys by enthusiast groups. The latest group arrived Friday from points as far-flung as Alabama, Minnesota, Tennessee and Utah. Robb Alvey of Irvine, who helped organize the meeting, said officials at Knott's seem somewhat surprised though definitely pleased by the popularity of GhostRider, which at a track length of 4,533 feet is billed as the West's longest wooden roller coaster. "For the first time in years, they've got something over there that's a real draw nationally," Alvey said.

With help from GhostRider and the Supreme Scream, another new thrill ride, Knott's winter attendance was up sharply from a year earlier, when El Nino dampened results, Knott's spokesman Bob Ochsner said. He said the crowds exceeded the expectations of Knott's owner, Cedar Fair of Sandusky, Ohio, which hopes attendance will rise from 3.4 million to 4 million this year. An Exercise in Millennium Excess at the Ritz Still undecided about what to do on New Year's Eve 1999? Maybe you were going to the gala at the Marine Corps mega-hangar in Tustin the one canceled when they called off that Orange County Business Council millennium program to promote the county as a tourist destination? Never fear. The Ritz-Carlton Laguna Niguel is offering Millennium Experience packages, three-night deals at prices starting at $4,500. All include three brunches, nightly dining, a New Year's Eve bash with Dom Perignon, and keepsakes of Bulgari fragrances, Taittinger champagne and Baccarat flutes to drink it from.

At $100,000, the priciest package is so indulgent that listing the caviar-coated details seems excessive. Let's just say that a chauffeured Jaguar, the Presidential Suite and a personal chef for a dinner for 12 are part of the deal at the hotel on the Dana Point bluffs. If the deluxe package is of interest, act now. There's only one available, "and we've had a big nibble on the $100,000 package," Ritz-Carlton spokeswoman Suzanne Willis said. The prospect approached the hotel through a travel agency, she said.

"But they haven't put down that deposit yet. So you still have a chance." Lake Isabella RV Resort's Best in the West If your concept of a getaway is more middle of the road, consider hitting the brakes at Lake Isabella RV Resort, owned by Daniel Wasbin of Irvine. The California Travel Parks Assn. summoned Wasbin to an Oakland banquet recently to receive a plaque for Best RV Park (small park category) in all of California, Oregon and Nevada. There's no free bubbly, but Wasbin recently installed new barbecues at the RV sites in the southern Sierra Nevada.

All yours for just $19.95 a night. The Mission Viejo Mall, which is in the midst of a major renovation, announced Tuesday the names of 47 retailers and restaurants that will become tenants at the spruced-up center, including two stores making their Southern California debuts. The overall list included an array of tony specialty shops, such as Garys Ermenegildo Zegna, AX Armani Exchange, Fendi and Sharper Image. It also included the big guns in home furnishings: Crate Barrel, Pottery Barn, Williams-Sonoma and Restoration Hardware. New to the Southland are DKNY and Polo Jean Co.

Mall owner Simon Property Group based in Indianapolis, had announced earlier that Nordstrom and Saks Fifth Avenue will join existing department -store anchors Macy's and Robinsons-May. The renovation, which began last June, is the 20-year-old mall's first face lift. It is expected to be completed this fall. Mall officials said last week that the center is taking a new name The Shops at Mission Viejo to reflect the "casual elegance" of its new architecture and the fresh mix merchants. (Leslie Earnest) Quality Systems Board Independence at Issue An investment group with a 10 When it comes to the nation's first Health Care Executive MBA, there's only one destination.

I 'h 't -jt I i 1 U.C. Irvine 1 "5 f- 3 stake in Quality Systems Inc. is seeking shareholder approval for a plan to ensure the independence of the board that oversees the Tustin based health care systems maker. Under a proposal submitted Monday by Lawndale Capital two-year class schedule that meets just once a month for three and a half consecutive days, youH enjoy the extra convenience of a campus only minutes from a major airport If you are involved in the dynamics of market driven health care reform, you will appreciate the quality and Management and its affiliates, 75 Recognized among the top MBA programs in the nation from sources such as Business Week and U.S. News World Report, UCI was the first major university to design an entire curriculum with a health care focus.

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