DaVita Inc. reported double digit increases in profit and revenues thanks to strong demand for dialysis services, the company said.
DaVita reported first quarter net income of $77 million (72 cents per share), a 33 percent up-tick from $58 million (55 cents) for the same period a year earlier, falling in line with analysts' expectations of 72 cents, according to a poll by Thomson Financial.
Revenues for the El Segundo-based dialysis center owner and operator were also up 10 percent to $1.3 billion thanks to a 6 percent increase in total treatments, the company said.
The company also raised its operating income guidance for the year to between $740 million and $780 million, from $700 million to $760 million.
Shares in DaVita rose 63 cents to $55.10 in afternoon trading Monday on the New York Stock Exchange.
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