HealthSouth 1Q Profit Jumps As Legal Costs Fall

BIRMINGHAM, Ala. (AP) — HealthSouth Corp., a provider of inpatient rehabilitation services, said Tuesday its first-quarter profit nearly tripled, mostly due to reduced legal expenses.

The company posted a profit of $38.4 million, or 44 cents per share, compared with $13.3 million, or 17 cents per share, a year earlier. Its revenue rose 2 percent, to $475.1 million from $464.2 million. Excluding one-time items, it earned 39 cents per share.

Analysts were expecting 22 cents per share on revenue of $479.5 million, according to Thomson Reuters. In Tuesday trading, HealthSouth shares rose $1.07, or 10.7 percent, to close at $11.06. After hours, the stock gained another 12 cents to $11.18. ...