Lincare earns $45.5M in profits

Lincare Holdings Inc. earned $45.5 million in profits over the three month-period ended Sept. 30, up 26% from the $36 million earned over the same time last year. And as profits grew, revenue went up 6.6%, to $418.7 million.

Company executives say the change in revenue is largely attributable to two factors: A 10% increase in revenues caused by internal and acquisition growth, and a 3.4% decline in revenues resulting from changes to Medicare payments, which netted the quarter's 6.6% total positive change.

The company's results in the most recent quarter closely resemble the quarter that immediately preceded it, when the company earned $46.4 million in profits.

So far in 2010, Lincare has grown its cash holdings by more than $100 million. At the same time, the company is carrying more than $496 million in long-term obligations on its balance sheet.

Headquartered in Clearwater, Lincare Holdings Inc. provides respiratory therapy services to in-home patients.