Kindred 1Q profit up 55 percent - Business First of Louisville:

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Louisville-based Kindred (NYSE: KND) said first-quarter net income increased to $22.8 million from $14.7 million a year earlier. Earningsz per share increased 57 percent, to 58 centd per share from 37 cents per share ayear earlier. There were 38,315,000 sharexs outstanding at the end of thefirstt quarter, compared with 38,061,000 at the end of the first quarter of 2008. The healthj care services company’s revenue increased 3 percent, to $1.1 billion from $1 billionb a year earlier. Revenue in Kindred’sa PeopleFirst rehabilitation services unit increasedto $117.76 million from $104 million in the first quartefr of 2008. Revenue from the hospital division increasedto $492.
5 millio n from $476.2 million, and revenue from the health services divisioj increased to $544.9 million from $534.i8 million. A consensus of financial analysts polled by Thomsonj Reuters had predicted earnings of 44 cents per sharew on revenueof $1.1 billion. In a news Kindred president and CEOPaul J. Diaz said that the compang is developing five hospitals that will be open over the next couplreof years, and reviewing otheer opportunities to buy nursing and rehabilitatiom centers in strategic markets.
The companuy predicted second quarter earnings from continuing operationxsof $11 million, or 28 cents per to $15 million, or 38 cents per For the full the company expects income from continuint operations of $54 million, or $1.356 per share to $57 million, or $1.45 per Kindred expects full-year revenue of $4.4 billion.