LHC GROUP
SymbolLHCG

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LHC Group Announces Third Quarter 2009 Results

2009-10-28 17:40 ET - News Release



 Company Raises Revenue Guidance and Reaffirms EPS Guidance
                     for Full-Year 2009

 Third Quarter Highlights:
 * Net service revenue increases 35.2% to $132.5 million;
 * Net income attributable to LHC Group increases 22.4% to
   $9.8 million; and
 * Diluted earnings per share increases 20% to $0.54.

LAFAYETTE, La., Oct. 28, 2009 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), one of the largest providers of home health services in the United States, announced today its financial results for the third quarter and nine months ended September 30, 2009. 



 Financial Results for the Third Quarter
 * Net service revenue for the third quarter of 2009 increased 35.2%
   to $132.5 million compared with $98.0 million for the same
   period in 2008.

 * Home-based net service revenue for the third quarter of 2009
   increased 38.1% to $116.7 million compared with $84.5 million
   for the same period in 2008.

 * Net income attributable to LHC Group for the third quarter of
   2009 increased 22.4% to $9.8 million, or $0.54 per diluted share,
   compared with net income of $8.0 million, or $0.45 per diluted
   share, for the third quarter of 2008.

 * Days sales outstanding, or DSO, for the three months ended
   September 30, 2009, was 48 days as compared with 52 days for the
   same three-month period in 2008.

 Financial Results for the Nine Months
 * Net service revenue for the nine months ended September 30, 2009,
   increased 43.5% to $389.3 million compared with $271.2 million
   for the same period in 2008.

 * Home-based net service revenue for the nine months ended
   September 30, 2009, increased 49.9% to $343.7 million compared
   with $229.3 million for the same period in 2008.

 * Net income attributable to LHC Group for the nine months ended
   September 30, 2009, increased 58.2% to $31.2 million, or $1.73
   per diluted share, compared with net income of $19.7 million, or
   $1.10 per diluted share, for the same period in 2008.  Net
   income attributable to LHC Group for the nine months ended
   September 30, 2009, includes a $211,000 after tax loss from
   discontinued operations, which resulted in a $0.01 decrease in
   earnings per share.

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