Companies in the News
Companies in the News
Apria reports positive earnings in 1Q00
Apria Healthcare Group (Costa Mesa, CA) reported a net income for 1Q00 ended March 31 of $12.8 million, 24 cents per share, compared to a pro forma net income in 1Q99 of $9.3 million, 18 cents per share. The pro forma net income for 1Q99 is on a fully taxed basis at a 42% effective tax rate, Apria said. The reported net income for 1Q99 is $15.6 million, 30 cents per share.
The company posted net revenues of $250.7 million in 1Q00, up from 1Q99 revenues of $228.3 million. Apria has now completed its sixth consecutive quarter of positive earnings, the company said.
Gentiva issues new report
A new report issued by Gentiva Health Services (Melville, NY), Health Care: A Look Forward, examines many of the critical health issues that the company says will likely be facing the nation over the next coming decades. According to the report, America’s healthcare system is at a pivitol crossroad. "We can focus our energies on reducing costs and patient options to stay in business, or we can embrace the principal that improving standards of care and information is the surest road to marketplace success," Gentiva said in the report. In the report, Gentiva outlines six developments it says will likely revolutionalize the healthcare marketplace, including globalization, accelerated research and development, self-care, wellness, new delivery channels, and emergent technologies. For a copy of the report, call (631) 844-7913.
Interwest sees growth in 2Q00 revenues
Interwest Home Medical (Salt Lake City) reported 2Q00 ended March 31 total revenues of $10.7 million, an increase of 37% over 2Q99 revenues of $7.8 million. The company posted a net income in 2Q00 of $760,000, 19 cents per share, compared to a 2Q99 net income of $412,000, 10 cents per share.
The 2Q00 results, the company said, reflect the "successful integration of our continued focus on our core respiratory/oxygen business."
Respironics launches new sleep diagnostic device
Respironics (Pittsburgh) has launched its high-performance Stardust Sleep Diagnostic Device. The new device is a seven-channel, three sensor, portable sleep diagnostic tool. It was designed to be one of the smallest and lightest sleep recorders in the market, Respironics said.
The company also said last week it was awarded a two-year contract to provide continuous positive airway pressure, bi-level, and noninvasive ventilation products to American HomePatient (Brentwood, TN). Respironics will be the primary supplier of the products for AHOM, the company said. In addition, Respironics was awarded duel vendor status for oximetry, infant apnea monitors, ventilators, nebulizers, and related accessories. The contract went into effect on April 1.
Respironics posted net sales for 3Q00 ended March 31 of $97.8 million, an 8% increase over 3Q99 sales of $90.9 million. The company recorded a 3Q00 net income of $3.8 million, 13 cents per share, compared to a 3Q99 net income of $8.2 million, 26 cents per share.
USHC sells more assets
U.S. HomeCare (USHC; Hartsdale, NY) has accepted an offer from an unnamed home care agency to buy its Latham, NY, office. USHC said the deal is expected to close by mid-May. A sale would also include the company’s Kingston, NY, office, reported the (Albany) Times Union.
USHC’s agent bank, Chase Manhattan, has foreclosed on some USHC assets and plans to foreclose on others because of the company’s failure to pay its debts.
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