Lincare 1Q profit rises on sales boost(2)

Mon, 04/18/2011 - 3:46pm
The Associated Press

Lincare Holdings Inc., which provides home delivery of oxygen and respiratory therapies, said Monday that its first-quarter profit rose 6 percent as its revenue climbed.

Lincare said it earned $46.4 million, or 49 cents per share, for the period that ended March 31. That's compared with $43.6 million, or 45 cents per share, a year earlier.

Its rlincareevenue rose 5 percent to $431.6 million from $410 million.

Analysts polled by FactSet expected Lincare to report net income of 49 cents per share on revenue of $431.5 million.

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

Shares of Lincare rose 35 cents to close at $30.76 before the company released its results. The shares fell 4 cents in after-hours trading.


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