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Home > Lincare 1Q profit rises on sales boost(2)

Lincare 1Q profit rises on sales boost(2)

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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Summary: 
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...
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The Associated Press
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