Dialysis services provider DaVita reported higher net income and operating revenue for 2009 than the previous year, while its fourth-quarter results mostly fell in line with analysts' expectations.
DaVita sees rise in revenue, net income
The company said net operating revenue for the year ended Dec. 31, 2009, was $6.1 billion, compared with almost $5.7 billion a year ago, while net income rose by more than 13% to almost $479.8 million in 2009 from $421.3 million in 2008. For the three months ended Dec. 31, DaVita reported net income of roughly $125.6 million, compared with $109.7 million for the fourth quarter of 2008. Net operating revenue for the fourth quarter of 2009 was almost $1.57 billion , versus $1.46 billion a year ago.
“Currently, we still expect our operating income for 2010 to be in the range of $950 million to $1,020 million and we also expect our operating cash flows for 2010 to be in the range of $675 million to $725 million,” Denver-based DaVita said in a news release. The company said these projections involve “certain risks and uncertainties” including continued downward pressure on average realized payment rates from commercial payers, which may result in lost revenue or patients; a reduction in government payment rates; or a restructuring of the Medicare end-stage renal disease program.
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