Gentiva Health Service reports first quarter net income of $5.2M
Home health services provider Gentiva Health Services Inc. (Nasdaq: GTIV) today reported a $5.2 million first quarter net profit, up from a $209.2 million net loss a year ago.
The company said net revenues from continuing operations grew 4.8 percent to $202 million.
Gentiva's
Gentiva earned 19 cents a share, beating the 14-cent-per-share Thomson First Call consensus.
The company reaffirmed its revenue guidance for 2003 of between $800 and $820 million, but said it believes its effective tax rate for 2003 to be at the lower end of the previously guided range of 10 percent to 15 percent of pre-tax income.
As a result of the lower tax range, the firm adjusted its 2003 earnings per share projections from 63 cents to 73 cents a share to between 67 cents and 73 cents a share.
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