Business News

LHC Group profit rises in third quarter

by The Associated Press

LHC Group President/CEO Keith Myers was ABiz's 2014 Entrepreneur of the Year.

LAFAYETTE, La. (AP) — LHC Group, a Lafayette-based home nursing company, reported its third-quarter profit climbed to $8.8 million, or 50 cents per share, compared to $6.2 million, or 36 cents per share, a year ago.

The Advocate reports ( stock analysts surveyed by Zacks Investment Research had forecast earnings of 42 cents per share.

LHC also raised its full-year guidance by 5 cents per share to a range of $1.75 to $1.85. The company also raised its revenue projections by $20 million to a range of $805 million to $815 million.

The company also announced it will acquire Kentucky-based Nurses Registry and Home Health Corp. for $5.7 million. Nurses Registry's annual revenue is estimated at $6.5 million.