ResCare 2nd-qtr profit rises with lower facility, program expenses

ResCare 2Q profit climbs

LOUISVILLE, Ky. — ResCare Inc., which provides residential and support services to people with physical and mental disabilities, said Thursday that its second-quarter profit rose despite a dip in revenue, helped by lower facility and program expenses.

ResCare earned $8.1 million, or 28 cents per share, in the April-June quarter, compared with $7.1 million, or 25 cents per share, in the same period last year.

Analysts polled by Thomson Reuters expected a profit of 25 cents per share.

Revenue declined 2 percent to $396.1 million, down from $405.3 million in the year-ago quarter. It was higher than the $393.3 million analysts were expecting, though.

Facility and program expenses, meanwhile, fell 3 percent to $361.4 million.

The company reiterated its full-year outlook for a profit of $1.05 to $1.15 per share on $1.6 billion in revenue.

Analysts expect a profit of $1.09 per share on $1.6 billion in revenue.