US Physical Therapy Inc. (USPH) Q2 2010 Earnings Call August 05, 2010 10:00 am ET Executives Jon Bates - VP, Controller Chris Reading - CEO Larry McAfee - CFO Analysts Larry Solow - CJS Securities Alex Gait - Castle Peak Asset Management Mitra Ramgopal - Sidoti & Company Brian Tanquilut - Jefferies & Company Presentation Operator
Previous Statements by USPH
» U.S. Physical Therapy, Inc. Q1 2010 Earnings Call Transcript
» US Physical Therapy Inc. Q2 2009 Earnings Call Transcript
» U.S. Physical Therapy, Inc. Q1 2009 Earnings Call Transcript
I also want to tell little bit of a story along the way and highlight some of our partnerships. Right in the call earlier this week with our audit committee to clear the press release in the 10-Q and I think I opened the call by saying that we had a pretty solid quarter at which point I think it probably expanded a couple of people over the call on the team because really we had an outstanding quarter.We always look to try to make it as perfect as we can be and that’s what we should stride for and knowing that we are probably not going to get there one of those areas we have continued work to do always in the same-store area that would have probably made this about as close to a perfect quarter as we could have gotten but it was truly an excellent quarter force we are very happy with the progress we have made since last year and remember last year was a great year for us. Second quarter last year was a record quarter and we moved ahead from where we were second quarter of last year, I think at $0.31 on reported basis up significantly over 20% to $0.38 this quarter. I want to mention a number of our partnerships and really when we talk about the company what we are about and why are we able to do some of these things and what's really still a very challenging environment. I saw some jobless numbers today which were up again, our market hasn’t responded too well early this morning, some of those statistics, but when we are out in the communities and it still feels difficult, unemployment is still higher, the employments high. We have been able to do some things and to navigate internally here with the help of our very talented made up of excellent partners around the country, needs in our business people, they are clinicians who dedicated to the care of their patients, they are dedicated to the communities they live and work in, they are clinicians at heart.
A number on the call today I am sure but most are in the clinic today seeing patients, doing what they do best and what they love to do and that's making a difference in lives of our patients. I think we've done that very, very well. We endeavor here in Houston and with our support team around the country to provide resources to them. So that they can focus on what they love to do and that's drive business and make a difference with their patients and recruit new staffs so that we can handle the growth and drive more growth.I want to point out a number of our partnerships around the country. They have just done an outstanding job and one of thing is that continued tough market. We have partnership in Michigan and places like Plymouth and Saginaw and in around Detroit which is our view one of the toughest hit areas in the country that are putting out some outstanding year-over-year numbers. They have found a way to continue to grow even in a difficult market, and I think that's really what it's about and that’s what I think underscores where we are as a company. We are not always going to put up a perfect quarter. But we are going to try and we are going to work very hard to figure out away how to overcome some of the challenges that are going to continue to be out there in this healthcare market right now and we are going to figure out away how to get a good, solid win under our belt. And our partners work very hard to do that, places like Florida and Maine. We have partnerships that have been around for more than 10 years in Dallas, multimillion partnerships that year-over-year find a way to make it happen and grow. Read the rest of this transcript for free on seekingalpha.com