Kindred Healthcare reports 2Q net income
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.