Gentiva Health Services Inc. (GTIV) reported third quarter net income of $15.4 million or $0.52 per share, compared to $120.9 million or $4.07 per share in the prior year.
Adjusted net income for the quarter was $15.9 million, up 27% compared with the prior year period. On a diluted earnings per share basis, adjusted net income was $0.54 per diluted share compared with $0.42 per diluted share a year earlier.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter was $295.6 million, compared to $345.2 million in the previous year. Nine Wall Street analysts expected revenues of $300.66 million.
Looking forward, for the fiscal year 2009, the company reaffirms adjusted net income in a range of $2.04 to $2.10. Gentiva still expects full year net revenues in a range of $1.19 billion to $1.21 billion. Street analysts expect earnings of $2.10 per share on revenues of $1.20 billion.
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