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Kindred Healthcare reports 2Q net income

Thu, 08/05/2010 - 3:45am
The Associated Press

Kindred Healthcare Inc. on Wednesday reported net income in the second quarter, a year after it took a loss to divest six unprofitable nursing centers.

Kindred provides health care services in long-term acute care hospitals, skilled nursing centers and through a contract rehabilitation services business.

The company earned $16.3 million, or 41 cents per share, compared with a $7.4 million loss, or 19 cents per share, during the same period a year prior. Revenue rose just under 1 percent to $1.08 billion from $1.07 billion.

Analysts polled by Thomson Reuters expected net income of 36 cents on $1.1 billion in revenue.

Kindred said admissions at facilities open at least a year rose 1 percent and overall admissions grew 1 percent.

For the third quarter, the company expects results to range from break even to net income of 10 cents per share. Analysts expect 8 cents per share.

For the full year, the company expects net income between $1.20 and $1.35 per share. Analysts expect $1.31 per share.

The company's shares closed at $13.13 on Wednesday.

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