U.S. Physical Therapy Net Income Up 30.4% in First Quarter

U.S. Physical Therapy reported Thursday that its net income rose 30.4% in the first quarter of 2008, to $2.4 million from $1.8 million in the first quarter of 2007. Earnings per share increased to 20 cents from 16 cents.Net revenue from continuing operations increased from $34.6 million to $45.3 million due to a 26.6% increase in patient visits from 359,000 to 455,000 and an increase in average net patient revenue per visit of 1.9% from $95.47 to $97.25, U.S. Physical Therapy said.Total clinic operating costs were $34.5 million, or 76.1% of revenues as compared to $26 million, or 75% of revenu...