Published in Hospital and Nursing Home Week, November 18th, 2004
For the quarter ended September 30, 2004, revenues were $322.0 million, a 9% increase over revenues of $296.3 million for the third quarter of 2003. The 9% increase in revenues was comprised of 6% internal growth and 3% acquisition growth.
Medicare reimbursement reductions for respiratory medications that took effect in 2004 reduced total revenues in the quarter by $14.0 million, or 5%. Net income for the quarter ended September 30, 2004, was $70.4 million compared to net income of $60.4 million for the third quarter of 2003.
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