Gentiva Health Services, Inc. (Nasdaq: GTIV), a provider of home health and hospice services, recently reported first quarter 2010 results that Total net revenues of $297.1 million, an increase of 7.5% compared to $276.4 million for the quarter ended March 29, 2009. Gentiva’s income from continuing operations was $10.3 million, or $0.34 per diluted share which included special pre-tax charges of $15.5 million or $0.31 per diluted share relating primarily to the impact of recent settlements of two legal matters. Net income for Q1 2010 was 9.3 million or $0.31 per diluted share compared to $18.0 million or $0.60 per diluted share in the first quarter of 2009.
"Gentiva’s solid first quarter performance was driven by patient admission growth of more than 10% and improving profitability as we continue to narrow our strategic focus to our home health and hospice operations," said Gentiva CEO Tony Strange. "The recent passage of healthcare reform legislation brings with it clarity on reimbursement for the next several years and we will continue to work closely with policymakers on future refinements to these regulations as they are implemented."