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LHC Group Announces Fourth Quarter And Full-Year 2012 Results

Stocks in this article: LHCG

LAFAYETTE, La., March 6, 2013 (GLOBE NEWSWIRE) -- LHC Group Inc. (Nasdaq:LHCG), a national provider of post-acute care services, today announced its financial results for the three months and year ended December 31, 2012.

Financial Results for the Fourth Quarter

  • Net service revenue for the fourth quarter of 2012 was $161.8 million, compared with $157.7 million for the same period in 2011.
  • Net income attributable to LHC Group for the fourth quarter of 2012 was $7.4 million, compared with $7.2 million for the same period in 2011.
  • Diluted earnings per share was $0.43 for the fourth quarter of 2012, compared with $0.39 for the same period in 2011.
  • Organic growth in new home health admissions was 5.6% for the fourth quarter of 2012.

Financial Results for the Year

  • Net service revenue for the year ended December 31, 2012, was $637.6 million, compared with $633.9 million for the same period in 2011.
  • Net income attributable to LHC Group for the year ended December 31, 2012, was $27.4 million, compared with a net loss attributable to LHC Group for year ended December 31, 2011, of $13.2 million, which included a $45 million after-tax charge related to fees and legal expense associated with the third quarter 2011 settlement agreement with the government.
  • Diluted earnings per share was $1.53 for the year ended December 31, 2012, compared with a loss per share of $0.73, including the aforementioned third quarter 2011 settlement with the government, for the same period in 2011.
  • Organic growth in new home health admissions was 5.1% for the year ended December 31, 2012.

In commenting on the results, Keith G. Myers, Chief Executive Officer of LHC Group, said, "We are pleased with our operating results and the overall performance of our company and our team in 2012. We ended the year with solid momentum in both volume growth and cost containment, while going through a strategic alternative process during the first half of the year and converting to a new point-of-care software system. Most importantly, our team of dedicated caregivers in communities throughout the country continues to provide the highest quality of care, day in and day out, to the patients, families and communities we serve. As we look ahead to the remainder of 2013 and beyond, we are well prepared and well positioned to continue increasing shareholder value by focusing on efficiencies while capitalizing on the opportunities we see ahead for both internal and external volume growth."

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