8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 30, 2008

LHC GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)

Delaware	8082	71-0918189
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

420 West Pinhook Rd., Suite A
Lafayette, LA 70503
(Address of Principal Executive Offices, including Zip Code)

(337) 233-1307
(Registrant’s telephone number, including area code)

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.

On April 30, 2008, LHC Group, Inc. (the “Company”) issued a press release reporting on its financial results for the first quarter ended March 31, 2008. A copy of that press release is furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information included or incorporated in this report, including Exhibit 99.1, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.

(c)       Exhibits

EXHIBIT NO.	DESCRIPTION
99.1	Press Release, dated April 30, 2008, announcing the Company’s financial results for the first quarter ended March 31, 2008.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		LHC GROUP, INC.
		By:	/s/ Keith G. Myers
			Keith G. Myers
			Chief Executive Officer
Dated:	April 30, 2008

INDEX TO EXHIBITS

EXHIBIT NO.	DESCRIPTION
99.1	Press Release, dated April 30, 2008, announcing the Company’s financial results for the first quarter ended March 31, 2008.

EX-99.1

Exhibit 99.1

LHC Group Announces First Quarter 2008 Results

LAFAYETTE, La.--(BUSINESS WIRE)--LHC Group, Inc. (NASDAQ: LHCG):

First Quarter Highlights:

• Net service revenue of $83.5 million;
• Income from continuing operations of $5.5 million; and
• Earnings per share from continuing operations of $0.31.

LHC Group, Inc. (NASDAQ: LHCG), a premier provider of post-acute healthcare services primarily in non-urban markets in the United States, announced today its financial results for the first quarter ended March 31, 2008.

Financial Results for the First Quarter

• Net service revenue for the first quarter ended March 31, 2008, increased 21.5% to $83.5 million compared with $68.7 million in 2007.

• Income from continuing operations for the first quarter of 2008 totaled $5.5 million, or $0.31 per diluted share, compared with income from continuing operations of $6.1 million, or $0.34 per diluted share, for the first quarter of 2007. Income from continuing operations for the first quarter of 2008 includes a one-time charge of $225,000, or $0.01 per diluted share, for the termination of the credit line with GMAC.
• Net income for the first quarter of 2008 totaled $5.3 million, or $0.30 per diluted share, compared with net income of $5.8 million, or $0.33 per diluted share, for the first quarter of 2007. Net income for the first quarter of 2008 includes an after tax loss from discontinued operations of $131,000, or $0.01 per diluted share.

• For the three months ended March 31, 2008, completed Medicare episodes increased 46.4% to 25,415 compared with 17,365 in 2007.
• Medicare admissions increased 34.0% to 9,828 compared with 7,333 in 2007.
• Commercial and Managed Care admissions decreased 18.8% to 2,170 compared with 2,673 in 2007. Although Commercial and Managed Care admissions decreased, Commercial and Managed Care revenue increased 17% to $7.4 million in the first quarter of 2008 compared with $6.3 million in the same period of 2007.
• Days sales outstanding, or DSO, for the three months ended March 31, 2008, was 74 days as compared with 79 days for the same three-month period in 2007.
• DSO, when adjusted for unbilled accounts receivables from acquisitions on hold pending change of ownership processing by fiscal intermediaries, decreased to 56 days as compared with 68 days for the comparable period in 2007.

In commenting on the results, Keith G. Myers, chief executive officer of LHC Group, said, “We are very pleased with our financial results in the first quarter of 2008. Our performance is a tribute to the hard working and dedicated employees of LHC Group who faced the adversity of the new reimbursement environment head-on. The depth and experience of our management team has once again proven to be the competitive edge that enables us to transform challenges into opportunities. Our continued success acknowledges the long-term commitment to excellence that is ingrained in our culture and in every member of the LHC Group family. Our commitment to the patients, families and communities we serve is at the heart of everything we do.”

Conference Call

The live broadcast of LHC Group’s conference call will begin at 11:00 a.m. Eastern time on Thursday, May 1, 2008. Speakers on the call will include Keith Myers, chief executive officer; John Indest, president and chief operating officer, and Pete Roman, senior vice president and chief financial officer. A link to the webcast can be found under the investor relations section of the Company’s website, www.lhcgroup.com, or at www.earnings.com. A replay of the webcast will also be archived on LHC Group’s website. A telephone replay will be available for one week by dialing (888) 286-8010 (US) or (617) 801-6888 (international) and entering the pass code 57604221.

About LHC Group, Inc.

LHC Group is a premier provider of post-acute healthcare services primarily in non-urban markets in the United States. LHC Group provides home-based services through its home nursing agencies and hospices and facility-based services through its long-term acute care hospitals and rehabilitation facilities.

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate” or similar expressions. These forward-looking statements include, among other things, statements regarding our financial performance for 2008 and the impact that recent changes in reimbursement and our operations will have on our future results. Forward-looking statements involve a number of risks and uncertainties and there can be no assurance that any forward-looking statements will prove to be accurate. Important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include: changes in reimbursement, changes in government regulations, changes in our relationships with referral sources, increased competition for our services, increased competition for joint venture and acquisition candidates and changes in the interpretation of government regulations. LHC Group undertakes no obligation to update or revise any forward-looking statements. Further information regarding risks, uncertainties and other factors that could adversely affect LHC Group or cause actual results to differ materially from those anticipated in forward-looking statements are included in LHC Group’s Form 10K for the year ended December 31, 2007, filed with the Securities and Exchange Commission.

LHC GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollars in thousands, except share data)
	March 31, 2008			Dec. 31, 2007
	(unaudited)
ASSETS
Current assets:
Cash	$	1,072		$	1,155
Receivables:
Patient accounts receivable, less allowance for uncollectible accounts of $7,027 and $8,953 at March 31, 2008 and December 31, 2007, respectively		68,165			70,033
Other receivables		2,998			2,425
Amounts due from governmental entities		1,249			1,459
		72,412			73,917
Deferred income taxes		2,331			2,946
Prepaid expenses and other current assets		3,830			4,423
Assets held for sale		556			556
Total current assets		80,201			82,997
Property, building and equipment, net		14,440			12,523
Goodwill		66,985			62,227
Intangible assets, net		14,167			14,055
Prepaid acquisition costs		8,300			-
Other assets		4,067			3,183
Total assets	$	188,160		$	174,985
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and other accrued liabilities	$	7,938		$	6,103
Salaries, wages and benefits payable		14,085			11,303
Amounts due to governmental entities		3,162			3,162
Income taxes payable		1,691			863
Current portion of capital lease obligations		105			88
Current portion of long-term debt		527			433
Total current liabilities		27,508			21,952
Deferred income taxes, less current portion		3,284			3,243
Capital lease obligations, less current portion		23			63
Long-term debt, less current portion		4,871			2,847
Minority interests subject to exchange contracts and/or put options		20			121
Other minority interests		3,288			3,388
Stockholders’ equity:
Common stock — $0.01 par value: 40,000,000 shares authorized; 20,770,254 and 20,725,713 shares issued and 17,816,466 and 17,775,284 shares outstanding at March 31, 2008, and December 31, 2007, respectively		178			177
Treasury stock — 2,953,788 and 2,950,429 shares at cost, respectively		(2,939	)		(2,866	)
Additional paid-in capital		82,411			81,983
Retained earnings		69,516			64,077
Total stockholders’ equity		149,166			143,371
Total liabilities and stockholders’ equity	$	188,160		$	174,985

LHC GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (dollars in thousands, except share and per share data) (unaudited)
	Three Months Ended March 31,
	2008			2007
Net service revenue	$	83,473		$	68,727
Cost of service revenue		41,896			34,617
Gross margin		41,577			34,110
Provision for bad debts		3,686			1,741
General and administrative expenses		26,873			20,927
Operating income		11,018			11,442
Interest expense		148			83
Non-operating income, including (gain) on sales of assets		(402	)		(293	)
Income from continuing operations before income taxes and minority interest allocations		11,272			11,652
Income tax expense		3,363			3,794
Minority interest		2,440			1,807
Income from continuing operations		5,469			6,051
Loss from discontinued operations (net of income tax benefit of $84 and $162 in the three months ended March 31, 2008 and 2007, respectively)		(131	)		(266	)
Net income		5,338			5,785
Redeemable minority interests		101			35
Net income available to common stockholders	$	5,439		$	5,820
Earnings per share — basic:
Income from continuing operations	$	0.31		$	0.34
Loss from discontinued operations, net		(0.01	)		(0.01	)
Net income		0.30			0.33
Redeemable minority interests		0.01			—
Net income available to common shareholders	$	0.31		$	0.33
Earnings per share — diluted:
Income from continuing operations	$	0.31		$	0.34
Loss from discontinued operations, net		(0.01	)		(0.01	)
Net income		0.30			0.33
Redeemable minority interests		0.01			—
Net income available to common shareholders	$	0.31		$	0.33
Weighted average shares outstanding:
Basic		17,800,066			17,748,369
Diluted		17,813,967			17,807,338

LHC GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (dollars in thousands) (unaudited)
	Three Months Ended March 31,
	2008			2007
Operating activities
Net income	$	5,338		$	5,785
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense		877			710
Provision for bad debts		4,040			1,816
Stock-based compensation expense		385			227
Minority interest in earnings of subsidiaries		2,330			1,756
Deferred income taxes		(86	)		(596	)
Gain on sale of assets		(346	)		-
Changes in operating assets and liabilities, net of acquisitions:
Receivables		(2,817	)		(12,801	)
Prepaid expenses, other assets		472			526
Accounts payable and accrued expenses		6,112			4,573
Net amounts due governmental entities		210			(61	)
Net cash provided by operating activities		16,515			1,935
Investing activities
Purchases of property, building, and equipment		(5,527	)		(716	)
Proceeds from sale of entities		3,081			-
Cash paid for acquisitions, primarily goodwill, intangible assets and prepaid acquisition costs		(14,031	)		(5,865	)
Net cash used in investing activities		(16,477	)		(6,581	)
Financing activities
Proceeds from line of credit		5,442			-
Payment on line of credit		(5,442	)		-
Proceeds on debt issuance		5,050			-
Principal payments on debt		(2,932	)		(39	)
Payments on capital leases		(23	)		(66	)
Excess tax benefits from vesting of restricted stock		33			46
Proceeds from employee stock purchase plan		134			88
Minority interest distributions, net		(2,383	)		(1,404	)
Net cash used in financing activities		(121	)		(1,375	)
Change in cash		(83	)		(6,021	)
Cash at beginning of period		1,155			26,877
Cash at end of period	$	1,072		$	20,856
Supplemental disclosures of cash flow information
Interest paid	$	148		$	83
Income taxes paid	$	1,885		$	1,240

LHC GROUP, INC. AND SUBSIDIARIES SEGMENT INFORMATION (in thousands)
	Three Months Ended March 31, 2008
	Home- Based Services			Facility- Based Services			Total
Net service revenue	$	68,363		$	15,110		$	83,473
Cost of service revenue		33,379			8,517			41,896
Provision for bad debts		3,246			440			3,686
General and administrative expenses		23,161			3,712			26,873
Operating income		8,577			2,441			11,018
Interest expense		101			47			148
Non-operating income, including gain on sale of assets		(285	)		(117	)		(402	)
Income from continuing operations before income taxes and minority interest		8,761			2,511			11,272
Minority interest		1,740			700			2,440
Income from continuing operations before income taxes		7,021			1,811			8,832
Total assets	$	161,891		$	26,269		$	188,160

LHC GROUP, INC. AND SUBSIDIARIES SEGMENT INFORMATION (in thousands)
	Three Months Ended March 31, 2007
	Home- Based Services			Facility- Based Services			Total
Net service revenue	$	55,066		$	13,661		$	68,727
Cost of service revenue		26,028			8,589			34,617
Provision for bad debts		1,224			517			1,741
General and administrative expenses		16,612			4,315			20,927
Operating income		11,202			240			11,442
Interest expense		54			29			83
Non-operating income, including gain on sale of assets		(204	)		(89	)		(293	)
Income from continuing operations before income taxes and minority interest		11,352			300			11,652
Minority interest		1,421			386			1,807
Income from continuing operations before income taxes		9,931			(86	)		9,845
Total assets	$	128,165		$	35,856		$	164,021

CONTACT:
LHC Group, Inc.
Eric Elliott, 337-233-1307
Vice President of Investor Relations
eric.elliott@lhcgroup.com