BATON ROUGE, La. (AP) — Baton Rouge-based Amedisys Inc., one of the nation's largest home health and hospice companies, posted a second-quarter profit of $7.6 million, or 23 cents per share.
Amedisys' results also were well above those from the second quarter of 2013 of $1.8 million, or 6 cents per share, and expectations of Wall Street analysts.
The Advocate reports (http://bit.ly/1rL8Spp ) stock analysts surveyed by Zacks Investment Research forecast second-quarter earnings of 17 cents per share.
Amedisys made the improvements in profitability despite a dip in revenue from $315.7 million to $305 million. However, the company chopped $19.3 million from its operating expenses.
Interim Chief Executive Officer Ronald A. LaBorde said much work remains, but Amedisys has re-established "a solid foundation" that will allow the company to focus on improving its core business.
Information from: The Advocate, http://theadvocate.com