Shares of Baton Rouge, La.-based Amedisys jumped $5.95, or 16.3 percent, to $42.61 in morning trading, having hit a new high of $44.50 earlier in the session. Previously, the stock ranged between $28.61 and $40.49 over the past year.

The company earned $20.2 million, or 77 cents per share, compared with $10.6 million, or 48 cents per share, a year ago. Excluding a $4.2 million gain related to the bankruptcy of subsidiary Alliance Home Health Inc. and other items, the company earned $16 million, or 61 cents per share, in the latest period.

Revenue rose 32 percent to $180.9 million from $137 million, benefiting from a greater number of patient visits by employees.

The results easily beat consensus estimates of analysts polled by Thomson Financial, who expected profit of 56 cents per share, on revenue of $175.3 million.

The company raised its earnings and revenue guidance for 2007 and issued preliminary 2008 guidance.

Amedisys said its Alliance unit filed for bankruptcy protection in 2000 and that the case is now concluded. As a result, the remaining $4.2 million liabilities of Alliance were settled, the company said.

Also in the third quarter, the company reported 1.1 million total visits, up from 878,386 visits. Total visits refer to the number of times during the period nurses, therapists and aides visited patients in their residences.