US Physical Therapy Q3 net income increases

US Physical Therapy, Inc., an operator of outpatient physical therapy clinics, has reported that net income attributable to common shareholders for the third quarter ended September 30, 2012 was $4.56 million, or $0.38 per diluted share, compared to $4.1 million, or $0.34 per diluted share, for the same quarter ended September 30, 2011.

Net revenues for the third quarter ended September 30, 2012 were $62.85 million, compared to $59.67 million for the same quarter ended September 30, 2011.

Net income attributable to common shareholders for the nine months ended September 30, 2012 was $13.89 million, or $1.17 per diluted share, compared to $12.74 million, or $1.06 per diluted share, for the same period ended September 30, 2011.

Net revenues for the nine months ended September 30, 2012 were $189.39 million, compared to $176.33 million for the same period ended September 30, 2011.

Chris Reading, CEO, said, "We continue to build on the strength of our partnership model with another successful quarter of solid operational results and strong same store growth. Development has recently been picking up nicely through a combination of organic de novo and acquired tuck-in clinics.

"Given the complexities of the current healthcare environment, coupled with the fragmented nature of our industry, we expect that private practices will continue to show interest in our Company as a preferred partner to assist them in these challenging times. We remain well resourced to execute on our future growth plans."