Kindred reports continued 2004 rebound for third straight quarter

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Kindred Healthcare's net income rose to $15.6 million for the quarter ended on Sept. 30, 2004, up from $11.7 million in the year-ago quarter. Revenue also increased 7% to $890 million.

This was the third straight quarter of earnings gains for the company.

For the past three quarters, Kindred earned net income of $51.2 million, compared with a net loss of $44.8 million in the year-ago period. The Louisville, KY-based company experienced a net loss in the 2003 period of $56.6 million on discontinued and divested operations.

One of the nation's largest nursing home chains, Kindred operates about 250 skilled-nursing centers and 70 long-term acute-care hospitals nationwide.