Worth the wait: Apria reports earnings
LAKE FOREST, Calif. - Apria Healthcare last week reported increased revenues for the second quarter of 2008, bolstered by a 184.3% increase in its home infusion business.
Home infusion revenues were $205.5 million, up from $72.29 million for the second quarter of 2007. Apria bought Coram, a large home infusion provider, in December.
On Aug. 18, Apria said it would hold off on reporting its earnings for the second quarter. Industry watchers believe the delay was related to its buyout deal by The Blackstone Group.
Overall revenues were $531.2 million for the second quarter of 2008 compared to $391.9 million for the same period in 2007, a 35.5% increase. Respiratory revenues were $273.1 million this year compared to $267.3 million last year, a 2.2% increase. Home medical equipment revenues were up slightly, rising to $52.6 million for the second quarter of 2008 from $52.3 million for the same period last year.
Half-year revenues increased 35.3% to $1.05 billion in 2008 compared to $782.7 million for the same period last year.