US Physical Therapy Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net revenues of $51.037 million, operating income of $7.195 million, income from operations of $7.104 million and net income attributable to common shareholders of $3.101 million or $0.26 per diluted share against net revenues of $47.232 million, operating income of $5.931 million, income from operations of $5.749 million and net income attributable to common shareholders of $2.531 million or $0.21 per diluted share for the same period last year. For the nine months, the company reported net revenues of $150.993 million, operating income of $22.139 million, income from operations of $21.852 million and net income attributable to common shareholders of $9.477 million or $0.80 per diluted share against net revenues of $139.872 million, operating income of $18.228 million, income from operations of $18.057 million and net income attributable to common shareholders of $7.771 million or $0.65 per diluted share for the same period last year. Net cash provided by operating activities was $24.517 million against $20.772 million last year. Purchase of fixed assets was $3.282 million against $3.173 million last year. The company's management is increasing its earnings guidance for the company for the calendar year 2009 to net earnings of $11,550 000 to $11,800,000 or $0.99 to $1.00 in diluted earnings per share. Prior guidance had been for net earnings of $10,900,000 to $11,500,000 or $0.93 to $0.98 in diluted earnings per share.

U.S. Physical Therapy Inc. reported results for the quarter and nine months ended September 30, 2009 with net income of $3.1 million. The company plans to make acquisitions. Chris Reading, Chief Executive Officer of the company said "Although the environment we have operated in this year has been very challenging, our team has worked hard to realize significant operational improvements. While we expect the near term environment to be difficult, we believe that we will see continued improvements which will have a positive effect on our overall business. We remain committed to building on our strong foundation of organic growth, selective acquisitions and focused service and operational enhancements as we work to invest in the growth of our company and leverage our strong cash flow."

US Physical Therapy Inc., Q3 2009 Earnings Call, Nov-05-2009