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LHC Group Announces Fourth Quarter And Full-Year 2013 Results

LAFAYETTE, La., March 5, 2014 (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, 2013.

Financial Results for the Fourth Quarter

  • Net service revenue for the fourth quarter of 2013 was $165.3 million, compared with $161.8 million for the same period in 2012.
  • Net income attributable to LHC Group for the fourth quarter of 2013 was $5.0 million, compared with $7.4 million for the same period in 2012.
  • Diluted earnings per share was $0.29 for the fourth quarter of 2013, compared with $0.43 for the same period in 2012.

Financial Results for the Year

  • Net service revenue for the year ended Dec. 31, 2013, was $658.3 million, compared with $637.6 million for the same period in 2012.
  • Net income attributable to LHC Group for the year ended Dec. 31, 2013, was $22.3 million, compared with $27.4 million for the same period in 2012.
  • Diluted earnings per share was $1.30 for the year ended Dec. 31, 2013, compared with $1.53 for the same period in 2012.

In commenting on the results, Keith G. Myers, LHC Group's chairman and CEO, said, "We are pleased with our operating results and the overall performance of our company and our team in 2013 and in the first two months of 2014. Our intense focus on reducing overhead costs, combined with the investments we've made in point-of-care technology over the past several years, is allowing us to improve operational efficiencies without sacrificing quality.

"As we celebrate our first 20 years and look forward to the next chapter in our company's story, our proven healthcare delivery model, combined with our unique hospital joint venture strategy, positions us well to take advantage of the unprecedented growth opportunities ahead and to be at the forefront of change as our country moves toward a more integrated healthcare delivery system.

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