Apria forecasts continued growth
LAKE FOREST, Calif. - Apria Healthcare in February reported revenues of $452.7 million for the fourth quarter of 2007, a 15.7% increase from the fourth quarter of 2006. Net income was $25 million for the fourth quarter this year compared to $21.4 million for the fourth quarter last year. Respiratory therapy and infusion therapy experienced solid revenue growth in the fourth quarter of 2007: 5.1% and 8.2%, respectively. Including the impact of Apria's December acquisition of Coram, infusion therapy grew 66.9% for the quarter. Apria also reported revenues of $1.632 billion for the year ended Dec. 31, 2007, a 7.6% increase from the year ended Dec. 31, 2006. Net income was $86 million for 2007 compared to $74.3 million for 2006. In 2008, Apria expects revenue to grow 33% to 35%.