Apria delays full earnings; AHP falls
LAKE FOREST, Calif. - Apria Healthcare last week reported preliminary revenues of $531.2 million for the second quarter of 2008, a 35.5% increase from the same quarter in 2007. Net income was $22.6 million for the quarter compared to $19.3 million for the same quarter last year. Apria delayed a July 30 earnings conference call to evaluate a potential overstatement of its accounts receivable reserves. Analysts say the error may be related to Coram, a home infusion and specialty services company that Apria bought last year. Apria expects to hold its quarterly conference call by Aug. 11.
American HomePatient revenues fall
BRENTWOOD, Tenn. - American HomePatient last week said its revenues for the second quarter of 2008 were $64.2 million, a 12.4% decline compared to the same quarter a year ago. Revenues for the six months ended June 30, 2008, were $133.4 million, compared to $150.3 million for the same period a year ago. The company attributed the declines to a change in its respiratory drug product mix and a reduced emphasis on less profitable product lines like durable medical equipment and home infusion therapy.