Merger Costs Give Apria Losses for ’95
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COSTA MESA — Apria Healthcare Group Inc., which was created last summer through the merger of Abbey Healthcare Group Inc. and Homedco Group Inc., reported a loss for 1995 from one-time charges associated with the deal.
The home-care services company reported a net loss of $74.5 million, or $1.58 a share, for 1995, contrasted with profit of $39 million, or 85 cents a share, for 1994. Revenue rose 18% to $1.1 billion from $962.8 million.
For the fourth quarter, net income totaled $17.4 million, or 34 cents a share, 17% higher than the $14.9 million, or 31 cents a share, for the like period last year. Fourth-quarter results included a one-time $8.3 million charge associated with the consolidation of several offices across the country. Revenue increased to $284 million from $259.6 million.
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