LHC Group to Present at CIBC World Markets 18th Annual Healthcare Conference Monday October 29, 12:33 pm ET
LAFAYETTE, La.--(BUSINESS WIRE)--LHC Group, Inc. (NASDAQ: LHCG - News), a premier provider of post-acute healthcare services primarily in rural markets in the United States, announced today that Keith G. Myers, chief executive officer of LHC Group, and John L. Indest, president and chief operating officer, will present at the CIBC World Markets 18th Annual Healthcare Conference in New York City on Monday, November 5, 2007. ADVERTISEMENT
The presentation will begin at 1:55 p.m. Eastern time. To access a live webcast of LHC Group?s presentation, listeners should go to the investor relations section of the Company?s website, www.lhcgroup.com, approximately 15 minutes prior to the event to register and download any necessary software, Microsoft Media Player or RealPlayer. For those unable to listen to the live broadcast, a replay will be available for 30 days on the Company?s website.
About LHC Group, Inc.
LHC Group is a premier provider of post-acute healthcare services primarily in rural markets in the United States. LHC Group provides home-based services through its home nursing agencies and hospices and facility-based services through its long-term acute care hospitals and rehabilitation facilities.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as ?believe,? ?expect,? ?anticipate,? ?intend,? ?estimate? or similar expressions. Forward-looking statements involve a number of risks and uncertainties and there can be no assurance that any forward-looking statements will prove to be accurate. Important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include: changes in reimbursement, changes in government regulations, changes in our relationships with referral sources, increased competition for our services, increased competition for joint venture and acquisition candidates and changes in the interpretation of government regulations. LHC Group undertakes no obligation to update or revise any forward-looking statements. Further information regarding risks, uncertainties and other factors that could adversely affect LHC Group or cause actual results to differ materially from those anticipated in forward-looking statements are included in LHC Group?s Form 10K for the year ended December 31, 2006, filed with the Securities and Exchange Commission.
Contact: LHC Group, Inc. Eric Elliott, 337-233-1307 Vice President of Investor Relations
-------------------------------------------------- Source: LHC Group, Inc.
-- Income from continuing operations of $5.5 million; and
-- Earnings per share from continuing operations of $0.31.
Financial Results for the First Quarter
-- Net service revenue for the first quarter ended March 31, 2008, increased 21.5% to $83.5 million compared with $68.7 million in 2007.
-- Income from continuing operations for the first quarter of 2008 totaled $5.5 million, or $0.31 per diluted share, compared with income from continuing operations of $6.1 million, or $0.34 per diluted share, for the first quarter of 2007. Income from continuing operations for the first quarter of 2008 includes a one-time charge of $225,000, or $0.01 per diluted share, for the termination of the credit line with GMAC.
-- Net income for the first quarter of 2008 totaled $5.3 million, or $0.30 per diluted share, compared with net income of $5.8 million, or $0.33 per diluted share, for the first quarter of 2007. Net income for the first quarter of 2008 includes an after tax loss from discontinued operations of $131,000, or $0.01 per diluted share.
-- For the three months ended March 31, 2008, completed Medicare episodes increased 46.4% to 25,415 compared with 17,365 in 2007.
-- Medicare admissions increased 34.0% to 9,828 compared with 7,333 in 2007.
-- Commercial and Managed Care admissions decreased 18.8% to 2,170 compared with 2,673 in 2007. Although Commercial and Managed Care admissions decreased, Commercial and Managed Care revenue increased 17% to $7.4 million in the first quarter of 2008 compared with $6.3 million in the same period of 2007.
-- Days sales outstanding, or DSO, for the three months ended March 31, 2008, was 74 days as compared with 79 days for the same three-month period in 2007.
-- DSO, when adjusted for unbilled accounts receivables from acquisitions on hold pending change of ownership processing by fiscal intermediaries, decreased to 56 days as compared with 68 days for the comparable period in 2007.