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Earnings Roundup

DaVita doubles net income

August 03, 2007|From Times Wire Services

DaVita Inc., a provider of dialysis treatments, said profit doubled as the company acquired new centers and treated more patients. The company increased its forecast for the year.

Second-quarter net income jumped to $125 million, or $1.17 a share, from $63 million, or 60 cents, a year earlier, the El Segundo-based company said.

Income from continuing operations, excluding items, was $88.7 million, or 83 cents a share, the company said. The results beat the average 78-cent estimate of analysts surveyed by Bloomberg.

The company raised its operating income forecast for the year to a range of $790 million to $820 million from the $740 million to $780 million it had estimated.

Shares rose to $54.30 in extended trading after the release of the earning reports. Earlier, the shares increased 39 cents to $53.17.

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