Lincare stagnates

 - 
Tuesday, March 31, 2009

CLEARWATER, Fla.--Lincare in February reported revenues of $415.1 million for the fourth quarter ended Dec. 31, 2008, compared to $412.3 million for the same period in 2007, a 1% increase. Net income was $58.2 million compared to $57.6 million. The provider reported revenues of $1.665 billion for all of 2008 compared to $1.596 billion for 2007, a 4% increase. Net income was $237.2 million compared to $226.1 million. In its earnings statement, Lincare predicts a tough 2009. It believes the 9.5% Medicare reimbursement cut and the 36-month oxygen cap will impact revenues by $240 million to $255 million.

Links: