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Apria Healthcare Group Inc.: The Costa Mesa...

Apria Healthcare Group Inc.: The Costa Mesa company, formed in June as the result of the merger between Abbey Healthcare Group Inc. and Homedco Group Inc., reported lower second-quarter earnings stemming from costs of the merger and other factors. Net income fell to $4.8 million, or 10 cents a share, from $11.1 million, or 24 cents a share, for the same period last year. The company’s second-quarter results this year included $14.4 million in non-recurring charges related to such factors as the merger and settlement of certain employee contracts. Apria also had a $3 million extraordinary charge from debt refinancing. Revenue increased 21% to $287.3 million from $237 million. Net income for the first half rose 83% from the year-earlier period to $21 million, or 42 cents a share, from $11.5 million, or 27 cents a share. Revenue was up 22% to $571.9 million from $468.5 million.


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