Apria racks up losses
LAKE FOREST, Calif. – Apria Healthcare on Nov. 4 reported net revenues of $584.9 million for the three months ended Sept. 30, 2011, compared to $526 million for the same period last year. But it reported a net loss of $4.7 million vs. $100,000.
The provider reported net revenues of $1.7 billion for the nine months ended Sept. 30, 2011, compared to $1.55 billion for the same period last year. It reported a net loss of $35.1 million this year vs. a net income of $2.4 million last year.
Apria has its home infusion segment to thank for increased revenues so far this year, it stated in a release. Those increases were offset by non-renewal or termination of, or changes to, certain contracts.
In its earnings report, Apria also stated that it has increased its borrowing capacity from $150 million to $250 million.
Additionally, the provider reported $171.2 million in savings as of Sept. 30, 2011, with an expected $181.3 million in savings by the end of the year.