U.S. Physical Therapy Q1 Revenue Beats Analyst’s Estimates

U.S. Physical Therapy, a national operator of outpatient physical therapy clinics, reported revenue for Q1 that exceeded the average estimate of Wall Street analysts. Revenue increased to $97.6 million in the quarter from $86.9 million a year earlier and it was higher than analyst forecasts of $94.3 million in a Capital IQ poll.

The company said in March it delayed filing of the annual report on Form 10-K for 2016 as management needed to complete its review of the appropriate accounting treatment for redeemable non-controlling interests of its acquired partnerships. This in turn has delayed reporting its financial position for Q1. In April the company it did not meet its target of filing the 2016 annual report in April and it “continues to work diligently to complete the preparation of its consolidated financial statements in order to file both its 2016 Form 10-K and its quarterly report on Form 10-Q for the quarter ended March 31, as soon as is possible.”

By Bucky Rini