National HealthCare Corporation

National HealthCare Corporation is listed on AMEX (NHC). National HealthCare Corporation (NHC) began business in 1971. We were incorporated as a Delaware corporation in 1997 when we changed from partnership form to corporate form. When we indicate NHC, we include all majority-owned subsidiaries, partnerships and limited liability companies in which we have an interest. All of our operating entities are separately organized businesses, capitalized initially by us and maintained as independent subsidiaries. For accounting and tax purposes, however, they are consolidated within our consolidated financial statements. Our principal business is the operation of long-term health care centers with associated assisted living and independent living centers. Our business activities include providing subacute skilled and intermediate nursing and rehabilitative care, senior living services, home health care services, management services, accounting and financial services and insurance services.

National Home Health Care Corp.

National Home Health Care Corp. is listed on NASDAQ (NHHC). National Home Health Care Corp. is a Delaware corporation that is a provider of home health care and staffing services in the Northeast region. INDUSTRY OVERVIEW United States health care spending continues to outpace the rate of inflation, and the population of older Americans continues to increase. The Company believes that alternatives to costly hospital and nursing home stays will continue to create demand for home health care. Medicare, Medicaid and other managed care insurance companies continue to look for a setting whereby the aged population can receive health care services most cost efficiently. Home health care has evolved as the acceptable and most preferred alternative in this continuum. Patient comfort and substantial cost savings can generally be realized through treatment at home as an alternative to traditional institutional settings.

Southwest Bancorp Inc. ..ered in Stillwater, Oklahoma. Southwest provides commercial and consumer banking services through its banking subsidiaries, Stillwater National Bank &..

Boise Cascade Corporation ..he terms OfficeMax, the company, and we include OfficeMax Incorporated and its consolidated subsidiaries and predecessors. Our Securities and Exchange..

OSI Systems Inc. ..ally integrated, worldwide provider of security and inspection systems, medical monitoring and anesthesia systems and optoelectronic devices and value..

Panamsat Holding Corporation ..te, Internet, voice and government communications services with a large and modern fleet of 23 in-orbit satellites. We lease transponder capacity on o..

PerkinElmer Inc. ..s, consumables and services to the pharmaceutical, biomedical, environmental testing and general industrial markets, commonly referred to as the healt..

Perma-Fix Environmental Services Inc. ..mental and technology know-how company, is a Delaware corporation, engaged through its subsidiaries, in: . Industrial Waste Management Services (Indus..

PennFed Financial Services Inc. ..ration, was organized in March 1994 for the purpose of becoming the savings and loan holding company for Penn Federal Savings Bank (Penn Federal or th..

PHH CORP ..t otherwise requires, the company, PHH, we, our or us means PHH Corporation, a Maryland corporation, and its subsidiaries. The information presented i..

Paxar Corporation ..k in 1946, is a global leader in providing innovative merchandising systems for the retail and apparel manufacturing industries. The Companys business..

Panacos Pharmaceuticals Inc. ..s Panacos) seeks to develop next generation anti-infective products through the discovery and development of small molecule oral drugs designed to tre..

PRA International ..tion, or CRO, with approximately 2,500 employees working from 23 offices located in North America, Europe, Africa, South America, Australia, and Asia...

PriceSmart Inc. .. concerning PriceSmart, Inc.’s (PriceSmart) anticipated future revenues and earnings, adequacy of future cash flow and related matters. These forward-..

Parallel Petroleum Corporation ..s are engaged in the acquisition, development and exploitation of long life oil and natural gas reserves and, to a lesser extent, the exploration for ..

Pulte Homes Inc. ..ny whose subsidiaries engage in the homebuilding and financial services businesses. Our assets consist principally of the capital stock of our subsidi..

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ResMed Inc. ..ibutor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. Sleep-disordered breath..

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Rochester Medical Corporation ..res and markets a broad line of innovative, technologically enhanced latex-free and PVC free urinary continence and urine drainage care products for t..

Retalix Ltd. .. During 2000, we changed our name from Point of Sale Ltd. to our current name. We were incorporated on March 5, 1982, under the laws of the State of I..

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SCM Microsystems Inc. ..s) was incorporated in 1996 under the laws of the state of Delaware. We design, develop and sell hardware, software and silicon solutions that enable ..

SEMCO Energy Inc. ..sted regulated public utility company headquartered in southeastern Michigan. It was founded in 1950 as Southeastern Michigan Gas Company. In 1977, So..

Saks Incorporated ..ncorporated in 1919, and its subsidiaries operate two business segments, Saks Department Store Group (SDSG) and Saks Fifth Avenue Enterprises (SFAE). ..

Shoe Pavilion Inc ..otwear retailer on the West Coast that offers a broad selection of women’s, men’s and children’s designer label and name brand merchandise. The Compan..

Tanger Factory Outlet Centers Inc. ..es, a fully-integrated, self-administered and self-managed real estate investment trust (REIT), focuses exclusively on developing, acquiring, owning, ..

Sharper Image Corporation ..any, The Sharper Image, and it) is a leading specialty retailer of innovative, high quality products that are useful and entertaining and are designed..

Span-America Medical Systems Inc. ..ooking statements that describe anticipated results for Span-America Medical Systems, Inc. (Span-America). These statements are estimates or forecasts..

Greenhill ..m that (i) provides financial advice on significant mergers, acquisitions, restructurings and similar corporate finance matters and (ii) manages merch..

SPACEHAB Incorporated ..n 1984 and made our initial public offering of our common stock in 1995. We flew our first module on a space shuttle mission in 1993 and have continue..

STERLING BANCORP ..rant) is a bank holding company and a financial holding company as defined by the Bank Holding Company Act of 1956, as amended (the BHCA), which was o..

Sunair Services Corporation ..us, we or our) is a Florida corporation organized in 1956. We changed our corporate name from Sunair Electronics, Inc. to Sunair Services Corporation ..

Stanley Furniture Company Inc. ..dential wood furniture exclusively targeted at the upper-medium price range. We offer diversified product lines across all major style and product cat..

Timberland Company (The) ..e on December 20, 1978. We are the successor to the Abington Shoe Company, which was incorporated in Massachusetts in 1933. We refer to The Timberland..

Telephone and Data Systems Inc. ..sified telecommunications service company with wireless telephone and wireline telephone operations. At December 31, 2004, TDS served approximately 6...

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Tri-Valley Corporation ..med in 1971, is in the business of exploring, acquiring and developing prospective and producing petroleum, industrial minerals and precious metals pr..

Meridian Resource Corporation (The) .. independent oil and natural gas company that explores for, acquires and develops oil and natural gas properties utilizing 3-D seismic technology. Our..

TEPPCO Partners L.P. ..e limited partnership, is a master limited partnership formed in March 1990. We operate through TE Products Pipeline Company, Limited Partnership (TE ..

TORCHMARK CAPITAL TR I ..lding company, was incorporated in Delaware in 1979, as Liberty National Insurance Holding Company and was renamed Torchmark Corporation in 1982. Its ..

Microvision Inc. ..sion, Inc. (Microvision) and Lumera Corporation (Lumera), a subsidiary that was consolidated prior to July 2004. In July 2004, Lumera completed an ini..

Twin Disc Incorporated ..tate of Wisconsin in 1918. Twin Disc designs, manufactures and sells heavy duty off-highway power transmission equipment. Products offered include: hy..

Unica Corporation ..al Report on Form 10-K, which we refer to as this Annual Report, contain forward-looking statements that involve risk and uncertainties. Our actual re..

UMB Financial Corporation ..nder Missouri law for the purpose of becoming a bank holding company registered under the Bank Holding Company Act of 1956. In 2001, the Company elect..

United States Cellular Corporation .. provides wireless telephone service to 4,945,000 customers through the operations of 175 majority-owned (consolidated) wireless licenses throughout t..

Virginia Commerce Bancorp ..g business through the Bank, its sole direct operating subsidiary. The Banks customer base includes small-to-medium-sized businesses, including firms ..

Valentis Inc. ..orward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act ..

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Xenonics Holdings Inc. ..ntensity portable illumination products. Our core product line consists of lightweight, long-range, ultra-high intensity illumination products used in..

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American Claims Evaluation Inc. .. in the State of New York and commenced operations in April 1982. The Company provides a full range of vocational rehabilitation and disability manage..

ADA-ES Inc. ..tements within the meaning of Section 27A of the Securities Act of 1933 that involve risks and uncertainties. In particular such forward-looking state..

AES TR III .. operations in 27 countries on five continents. A Delaware corporation formed in 1981, AES is a holding company that, through its subsidiaries, operat..

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Applera Corporation ..e business segments, which are described below. Throughout this report, terms such as Applera, we, us, or our may be used to refer to Applera Corporat..

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