(RTTNews) -  DaVita, Inc. (DVA: News ), an operator of kidney dialysis centers, Tuesday, after the market close, posted higher third-quarter profit, as number of patients treated during the quarter increased year-on-year. The company's results came in ahead of analysts' estimates.

The El Segundo, California-based company reported net income attributable to the company for the third quarter of $110.9 million or $1.06 per share, compared with $93.9 million or $0.89 per share in the year-ago quarter.

On average, thirteen analysts polled by Thomson Reuters expected the company to earn $0.99 per share for the quarter. Analysts estimates typically exclude special items.

Operating income for the three months ended September 30, 2009 was $245 million, up from $222 million for the same period of 2008.

Net operating revenues for the quarter increased to $1.57 billion from $1.45 billion in the prior-year quarter. Ten analysts had a revenue consensus of $1.53 billion for the third quarter.

In the immediately preceding quarter, DaVita reported an 11% increase in its second-quarter profit to $105.8 million, or $1.02 per share, as treatment volume increased. Net operating revenue for the second quarter rose 8% to $1.52 billion.
Among DaVita's rivals, Fresenius Medical Care AG & Co. KGaA (FMS) posted an increase in its profit for the third quarter to $225.3 million, or $0.76 per share. Total net revenue for the quarter was $2.9 billion, up 6.5% from $2.7 billion in the comparable quarter last year. Looking ahead, FMC AG raised its fiscal 2009 revenue guidance, while tightening full year earnings outlook.

Segment wise, revenues from DaVita's Dialysis and related lab services segment for the third quarter increased to $1.49 billion from $1.38 billion in the prior-year quarter. Other - Ancillary services and strategic initiatives generated revenues of $83 million, compared to $69 million in the same quarter last year.

Total treatments for the third quarter were about 4.34 million, or about 55 thousand treatments per day, representing a per day increase of 6.1% over the third quarter of 2008. Non-acquired treatment growth in the quarter was 5.2% over the prior year's third quarter.

The company's effective tax rate was 37.0% for the third quarter of 2009, which was impacted by the amount of third party owners' income attributable to non-tax paying entities. The effective tax rate attributable to DaVita Inc. was 40.0% for the three and nine months ended September 30, 2009 which was in the range of the company's guidance.

To receive FREE breaking news email alerts for DaVita Inc and others in your portfolio

 1   2   Next Page