Revenue drops but AHP's net income rises
BRENTWOOD, Tenn. -- American HomePatient's revenues for the first quarter of 2005 were $81.5 million compared to $84.7 million for the first quarter of 2004, representing a decrease of $3.2 million, or 3.8%. Net income for the first quarter of 2005 was $1.2 million compared to $1 million for the first quarter of 2004. Net income was positively impacted in the current quarter by a $4.3 million reduction in operating expenses compared to the first quarter of 2004. The reduction in operating expenses is a result of initiatives to improve productivity and reduce costs in operating centers and billing centers, the company reported in April.