U.S. Physical Therapy Reports First Quarter 2006 Results.

HOUSTON -- U.S. Physical Therapy, Inc. (NASDAQ:USPH), a national operator of physical and occupational therapy outpatient clinics, today reported results for the first quarter ended March 31, 2006.

U. S. Physical Therapy's reported earnings for the first quarter of 2006 were $1.5 million or $0.12 per diluted share.

First Quarter 2006 compared to First Quarter 2005

--Net revenue rose 12.2% to $34.7 million from $30.9 million due to an 11.9% increase in patient visits to 351,000 and an increase of $0.31 in net patient revenue per visit to $97.07 from $96.76.

--Clinic operating costs were 76.7% of net revenue versus 72.8% for the first quarter in the prior year. The increase is primarily attributable to clinic salaries and related costs increasing from 51.2% ...

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