DaVita’s profit jumps nearly 16% on sales gain
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El Segundo-based DaVita Inc., which runs one of the nation’s largest dialysis center chains, said its fourth-quarter profit rose nearly 16% on higher revenue.
Net income grew to $74.1 million, or 70 cents a share, from $64.1 million, or 61 cents, a year earlier. The company’s results included stock-based compensation charges of 4 cents a share. Excluding the charges, DaVita earned 74 cents a share. Revenue rose 12% to $1.27 billion.
For the year, earnings rose 27% to $289.7 million, or $2.74 a share, from $228.6 million, or $2.20, in 2005. Revenue climbed 64% to $4.88 billion.
DaVita shares rose 89 cents to $57.45.
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