Abano's bottom line fell sharply but results at top end of forecasts

Sun, 29 Jul 2012

July 30 (BusinessDesk) - Abano Healthcare Group's annual bottom line fell sharply but its results were near the top end of its forecasts. Net sank to $1.6 million in the year ended May 31 from $11.5 million a year earlier, when it included a $12.3 million gain from selling its National Hearing Care stake, the health services company said in a statement. Earnings before interest, tax depreciation and amortisation (EBITDA) rose 30 percent to $25.7 million while revenue climbed 18 percent to a record $206.4 million. In March, Abano predicted a...

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