U.S. Physical Therapy: Q1 Earnings Snapshot

HOUSTON (AP) _ U.S. Physical Therapy Inc. (USPH) on Thursday reported first-quarter net income of $2.8 million.

On a per-share basis, the Houston-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring costs, were 64 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The physician staffing services company posted revenue of $112.4 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $113.2 million.

U.S. Physical Therapy expects full-year earnings in the range of $2.68 to $2.78 per share.

U.S. Physical Therapy shares have decreased 6.5% since the beginning of the year. The stock has climbed 58% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on USPH at https://www.zacks.com/ap/USPH