Lincare announces quarterly net income decline of 3.3 percent

Lincare of Clearwater, Fla., one of the nation’s largest providers of respiratory therapy and other homecare services, announced last week a 3 percent decrease in net income for the last quarter of 2011.

Net income totaled $44.6 million for the fourth quarter 2011, compared to $46.1 million for the fourth quarter of 2010. Net income for the year also was down, totaling $177.3 million in 2011, a 2.3 percent decrease from the $181.6 million in 2010.

Net revenues in 2011 totaled $1.184 billion, up 10.7 percent from 2010, but the increase was comprised of 13.8 percent in internal and acquisition growth dampened by a 3.1 percent negative impact from $52.4 million in Medicare payment reductions for 2011.