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Lincare Holdings 2Q net income jumps 39 percent

Mon, 07/19/2010 - 2:45pm
The Associated Press

Lincare Holdings Inc., which provides home delivery of oxygen and respiratory therapies, said Monday that its second-quarter profit jumped 39 percent on a boost in sales.

Lincare said it earned $46.4 million, or 47 cents per share, compared with $33.5 million, or 33 cents per share, a year earlier. Revenue rose 10 percent to $418.4 million from $380.4 million.

Analysts polled by Thomson Reuters expected net income of 46 cents per share on revenue of $414.1 million.

Looking ahead, the company said it expects reimbursement cuts from the Centers for Medicare and Medicaid Services to impact quarterly revenue by about $7 million.

Shares of Lincare rose 17 cents to $26.15 in after-hours trading. The stock fell 69 cents, or 2.6 percent, to close the regular trading session at $25.98.

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