Lafayette’s LHC Group posts lower profit

LHC Group Inc., a Lafayette home nursing company, reported its first-quarter earnings dipped to $6.3 million, or 37 cents per share, compared with $7.7 million, or 42 cents per share, a year ago.

The company’s revenue increased by $1.2 million to $162 million, and it increased the number of patients seen by 3.7 percent.

However, the cost of servicing those patients, setting aside more money for bad debt, and higher general and administrative expenses
offset the increase in revenue.

The company’s performance still beat the profit forecasts of stock analysts surveyed by Thomson Reuters.

Those analysts expected earnings of 33 cents per share on revenue of $164.7 million.

LHC said it still expects 2013 per-share earnings in the range of $1.10 to $1.30, with revenue in the range of $660 million to $680 million. Wall Street analysts have forecast 2013 earnings of $1.25 per share on revenue of $672.8 million.

LHC will discuss its results during a conference call with investors and analysts at 10 a.m. Thursday.

The toll-free number for the call is (866) 393-1608 and a live webcast will be available on the company’s site, lhcgroup.com.