Baton Rouge-based Amedisys Inc. reported third-quarter earnings of $9.9 million, or 33 cents per share, compared to a loss of $423.7 million, or $14.73 per share, a year earlier.
However, the home health and hospice company’s 2011 results included a $574.1 million non-cash, write-down of assets. Without the paper loss, Amedisys would have earned $12.3 million, or 42 cents per share.
Compared to the adjusted results, Amedisys’ net income fell by 19 percent overall, or more than 21 percent on a per-share basis.
Still, the company’s third-quarter results easily beat the 27 cents per share estimated by stock analysts surveyed by Thomson Reuters.
Amedisys’s third-quarter revenue was $375.6 million, up $5.3 million or 1.4 percent, compared to a year ago. Stock analysts had forecast revenue of $380 million.
The company also said it expects 2012 per-share earnings of $1 to $1.06 on revenue of $1.485 billion to $1.505 billion.
“Overall, we were pleased with bottom-line results for the quarter and remain on pace to meet our earnings plans for the year,” Amedisys Chief Executive Officer William F. Borne said in a news release.