DaVita Inc. reported third quarter net income of $95 million (90 cents per share), up 72 percent from $55.2 million (53 cents) from the same period a year earlier, mainly due to a one-time, non-cash gain of $38 million, the company said. The company also said it performed about 2 percent more treatments in the third quarter compared to the same period last year.
Revenue for the El Segundo-based provider of dialysis services nearly doubled to $1.24 billion, and beat Wall Street expectations of 64 cents per share and $1.22 billion in revenue, according to a Thomson Financial poll.
DaVita also raised the lower end of its forecast of earnings for the year to $690 million, up from $670 million. The top end forecast remains at $700 million.
Shares in DaVita rose 60 cents to $56.23 in early trading Wednesday.
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