Wednesday,Odyssey HealthCare, Inc. (ODSY), a provider of hospice care, reported a surge in its third-quarter profit, reflecting a 6% increase in the net patients service revenue.
Odyssey reported third-quarter net income attributable to its stockholders of $11.6 million or $0.35 per share, compared with $5.9 million or $0.18 per share in the year-ago period.
Income from continuing operations increased to $11.86 million or $0.35 per share from $6.45 million or $0.19 per share in the comparable quarter last year.
On average,nine analysts expected the company to report earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude one-time items.
Net patients service revenue for the quarter was up to $175.23 million from $165.24 million in the year-ago period. Eight wall street analysts estimated revenue of $173.02 million for the quarter.
The Dallas, Texas- based company said that its average daily patient census increased 2.5% to 12,633 from 12,329 in the year-ago period. While on same store basis, average daily patient census increased 1.8%, it increased 2.9% on sequential basis.
EBITDA from continuing operations increased to $22.3 million, from $13.6 million in the year-ago period.
For the nine months ended September 30, net income attributable to Odyssey stockholders was $28.8 million, or $0.87 per share, up from $9.1 million, or $0.27 per share in the prior-year. Net patient service revenue increased to $513.1 million from $448.8 million last year.
ODSY last traded at $12.13, up $0.08 or 0.06% on a volume of 0.20 million shares on the Nasdaq
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