Lincare’s Net Income Dropped 22 Percent

By Carol Gentry, Tampa Tribune, Fla.

Feb. 14–In 2005 Clearwater-based Lincare Holdings Inc. reported Monday that its net income fell 22 percent last year compared with 2004.

The oxygen-supply company reported virtually no difference in revenue for the year that ended Dec. 31, with sales about $1.27 million in 2005 and 2005.

Because of Medicare payment cuts, however, Lincare had less to show for it: $213,696 in 2005 net income compared with $273,428 the year before.

The fourth quarter’s revenue reflected a similar pattern, with revenue of $326,148, up less than $2,000 from the same quarter in 2004. After-tax income for the quarter was $55,095, down from $72,708 for the same period a year earlier.

Shares of Lincare on the Nasdaq Stock Market on Monday closed at $41.65, up 10 cents, before the earnings announcement.

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