BATON ROUGE (AP) — Amedisys Inc., a Baton Rouge-based home health and hospice company, increased its second-quarter earnings to $10.6 million, or 32 cents per share, from $7.6 million, or 24 cents a share, a year earlier.
However, after adjusting for exit and restructuring costs, a federal class-action lawsuit involving overtime payments, and an unrealized gain on investment, Amedisys' second-quarter profit was $14.5 million, or 43 cents per share. A year earlier, Amedisys' adjusted profit came to $8 million, or 25 cents per share.
Stock analysts surveyed by Zacks Investment Research had forecast earnings of 34 cents per share.
The Advocate reports Amedisys spent $8 million during the second quarter to fight the lawsuit. Former and current employees claim the company violated federal law by refusing to pay overtime to home health workers.
