Apria's revenue jumps, income falls
LAKE FOREST, Calif. -- During the fourth quarter of 2004, Apria closed one acquisition for $1.6 million, bringing the total number of acquisitions for the year to 27, the company reported in its year-end financial statement released earlier this month. Revenues were $376.4 million in the fourth quarter, a 5.7% increase over revenues of $356.3 million for the comparable period in 2003. Net income for the fourth quarter was $27.3 million compared to $29.9 million for the fourth quarter of 2003. Revenues for 2004 were $1.5 billion, a 5.1% increase over 2003 revenues. Net income for 2004 was $114 million compared to $116 million in 2003. Between Sept. 30 and Dec. 31, 2004, Apria's DSO improved from 55 to 52 days.