{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "", "close" : "", "flags" : {"h" : "Thanksgiving Day"}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

Lincare's 3Q profit falls 32 percent

Lincare Holdings' 3rd-quarter profit falls on lower reimbursements

  • On 6:05 pm EDT, Monday October 19, 2009

CLEARWATER, Fla. (AP) -- Lincare Holdings Inc., which provides home delivery of oxygen and respiratory therapies, said Monday its third-quarter profit fell 32 percent on lower Medicare reimbursements.

The company earned $36 million, or 53 cents per share, compared with profit of $53.3 million, or 73 cents per share, during the same period a year ago.

Revenue declined 3 percent to $392.6 million from $405.7 million a year ago.

Analysts polled by Thomson Reuters expected earnings of 52 cents per share and revenue of $390.9 million.

Revenue has been down for several quarters because of legislation that cut Medicare reimbursements for certain items, including oxygen.

Shares of Lincare declined 26 cents to $32 in after-hours trading after rising 51 cents to close at $32.26 during the regular trading session.

Related Headlines

Top Stories

Related Message Boards

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.