Gentiva Health Services Q3 Net Income Lower From Odyssey Acquisition, Revenues Up

Gentiva Health Services, Inc. (Nasdaq: GTIV) released its results last week for the third quarter that showed net income of $8.1 million versus $15.4 million in Q3 2009.    While revenues were up 38% to $387.8 million, Gentiva results were impacted by settlements of two legal matters and charges associated with restructuring, acquisition and integration activities with Odyssey HealthCare that it acquired in August.  

"During the third quarter, we closed a transformational acquisition with Odyssey, made great progress in the integration of this transaction and posted strong operating results," said Gentiva CEO Tony Strange. "We are well on our way to creating the leading provider of home health and hospice services in America."

Gentiva 8-K for Q3 2010