Lincare, Respironics post increased revenues, income
CLEARWATER, Fla. -- Lincare reported revenues of $397.1 million for the quarter ended June 30, 2007, a 13.4% increase from the same quarter last year, the company announced last week.
The increased revenues comprised about 10.4% internal growth and 4.5% acquired growth.
Net income also increased, from $51.9 million for the quarter ended June 30, 2006, to $56 million for the same quarter this year.
Additionally, Lincare reported revenues of $775.5 million for the six months ended June 30, 3007, a 13.4% increase from the same period last year. Net income was $109.9 million compared to $99.8 million.
During the first half of 2007, Lincare generated $170.1 million in cash from operating activities and invested $66.5 million in net capital expenditures. As of June 30, 2007, total debt was $481.6 million, and cash and cash equivalents were $23.7 million.
The increased revenues comprised about 10.2% internal growth and 4.6% acquired growth.
In the first half of 2007, Lincare opened 21 new locations, expanding its total number of locations to 999. Moreover, it added nine new operating centers.
"We are pleased with Lincare's operating and financial performance in the first half of 2007," stated CEO John Byrnes in a release. "We are experiencing strong customer growth and expanding market share in our core businesses and continue to expand by opening locations in new and contiguous geographic markets."