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LHC Group Announces Third Quarter 2013 Results

Stocks in this article: LHCG

LAFAYETTE, La., Nov. 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 nine months ended September 30, 2013.

Financial Results for the Third Quarter

  • Net service revenue for the third quarter of 2013 was $164.7 million, compared with $158.9 million for the same period in 2012.
  • Net income attributable to LHC Group for the third quarter of 2013 was $5.3 million, compared with $6.3 million for the same period in 2012.
  • Diluted earnings per share was $0.31 for the third quarter of 2013, compared with $0.36 for the same period in 2012.

In commenting on the results, Keith G. Myers, LHC Group's chairman and CEO, said, "As usual, through the first nine months of 2013, our dedicated employees have once again exceeded expectations. Our ability to consistently deliver high-quality care to the growing number of patients, families and communities we serve is a testament to the collective talent, work ethic and experience of the growing number of healthcare professionals who make up our LHC Group family. Going forward, we expect the release of the final home health reimbursement rule and rebasing to provide greater clarity surrounding the long-term reimbursement environment. As a result, we believe a period of significant consolidation in the industry will occur over the next several years, and we are prepared to absorb this growth organically through a more diversified and comprehensive post-acute strategy in existing markets and through acquisitions and joint ventures in new markets. We have made significant investments in people and infrastructure over the past several years, and we are well positioned to efficiently and effectively deliver the superior care and service expected by those we serve. We look to the future with optimism and are prepared for the challenges and opportunities ahead."

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