Posted: Nov 2, 2010 11:08 AM by Posted by Sharlee Barriere
LAFAYETTE, La. (AP) - Home health provider LHC Group Inc. posted a 35 percent increase in third-quarter profit, announced a share buyback program and reaffirmed its 2010 earnings guidance.
For the July-through-September period, Lafayette-based LHC earned $13.3 million, or 73 cents per share, on revenue of $166.6 million. For the third quarter of 2009, the company posted earnings of $9.8 million, or 54 cents per share, on revenue of $132.9 million.
LHC said its board had authorized the repurchase of up to $50 million of its common stock on the open market and through private transactions.
LHC also said it still expects 2010 profit to range from $2.75 to $2.85 per share.