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Kindred Healthcare Inc. recorded a lower 2006 first-quarter profit than the company experienced a year ago.

The Louisville, KY, operator of nursing homes, rehabilitation services and hospitals posted a net profit of $24.0 million, or 58 cents per share, compared with a profit of $36.9 million, or 83 cents per share, a year earlier, according to a company release.

While Kindred’s revenues rose 13% to $1 billion, compared to $930 million a year ago, net income decreased for the first quarter of 2006 by approximately $500,000. The company’s nursing homes reported revenue increases of more than 8% from last year’s first quarter, Kindred president and CEO Paul J. Diaz said.

Earlier this year, the company completed the acquisition of the assets of Health Care REIT and Commonwealth Communities Holdings LLC, which included 11 nursing homes, four assisted living facilities and six hospitals.