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Lincare Holdings Inc. Announces Fourth Quarter and Year Ended 2009 Financial Results
Date:2/8/2010

CLEARWATER, Fla., Feb. 8 /PRNewswire-FirstCall/ -- Lincare Holdings Inc. (Nasdaq: LNCR) today announced financial results for the fourth quarter and year ended December 31, 2009.

For the quarter ended December 31, 2009, net revenues were $405.8 million, compared with net revenues of $415.1 million for the fourth quarter of 2008.  The Company estimates that the 2% decrease in net revenues in the fourth quarter of 2009 was comprised of 13% internal and acquisition growth offset by a 15% negative impact from Medicare reimbursement reductions that took effect in 2009.  Net income for the quarter ended December 31, 2009, was $40.6 million, compared with net income of $55.6 million for the fourth quarter of 2008.  Diluted earnings per share were $0.61 for the quarter ended December 31, 2009, compared with $0.76 diluted earnings per share for the comparable prior year period.

Net revenues for the year ended December 31, 2009, were $1.550 billion, compared with net revenues of $1.665 billion for the comparable period in 2008.  The Company estimates that the 7% decrease in net revenues for the year ended December 31, 2009 was comprised of 10% internal and acquisition growth offset by a 17% negative impact from Medicare reimbursement reductions that took effect in 2009.  Net income for the year ended D
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