LHC Group Announces Third Quarter 2010 Results And Authorization Of A $50 Million Share Repurchase Program

Highlights:

• Net service revenue for the third quarter of 2010 increased 25.4% to $166.6 million as compared with the third quarter of 2009;
• Diluted earnings per share for the third quarter of 2010 increased 35.2% to $0.73 as compared with the third quarter of 2009;
• Organic growth for total new admissions for the third quarter of 2010 was 9.6% as compared with the third quarter of 2009; and
• During the third quarter, 110 of the Company's agencies were surveyed by the Joint Commission. Joint Commission accreditation and certification is recognized nationwide as a symbol of quality.

LAFAYETTE, La., Nov. 1, 2010 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), a national provider of home health and hospice services, announced today its financial results for the three and nine months ended September 30, 2010.

Financial Results for the Third Quarter

• Net service revenue for the third quarter of 2010 increased 25.4% to $166.6 million compared with $132.9 million for the same period in 2009.
• Days sales outstanding, or DSO, for the three months ended September 30, 2010, was 43 days as compared with 48 days for the same period in 2009.
• Net income attributable to LHC Group for the third quarter of 2010 totaled $13.3 million, an increase of 35.3%, compared with $9.8 million for the same period in 2009.
• Diluted earnings per share was $0.73 for the third quarter of 2010, an increase of 35.2%, compared with $0.54 for the same period in 2009.

In commenting on the results, Keith G. Myers, President and Chief Executive Officer of LHC Group, said, "I am extremely proud of the strong and well balanced operating results our team has delivered once again during the third quarter. It is a real tribute to the strength of our entire organization when we are able to exceed the expectations of all stakeholders while, at the same time, having 110 of our agencies complete Joint Commission surveys. I would like to congratulate and thank our entire team for their unwavering commitment to excellence and for consistently delivering the highest quality of care to the growing number of patients, families and communities we serve."