8-K

UNITED STATES

SECURITIES 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): July 23, 2007

Lincare Holdings Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-19946	51-0331330
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

19387 U.S. 19 North, Clearwater, FL 33764

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: 727-530-7700

(Former name or address, if changed from 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 July 23, 2007, Lincare Holdings Inc. issued a press release announcing its results of operations for the quarter ended June 30, 2007. A copy of the company’s press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
	The information in this current report on Form 8-K is being furnished to the Commission and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.
Item 9.01	Financial Statements and Exhibits
	(c) Exhibits 99.1 Press release of Lincare Holdings Inc., dated July 23, 2007

SIGNATURES

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

Lincare Holdings Inc.
By:	/s/ Paul G. Gabos
	Paul G. Gabos
	Chief Financial Officer, Treasurer and Secretary

July 24, 2007

EX-99.1

FOR IMMEDIATE RELEASE Exhibit 99.1

Contact:	Paul G. Gabos
	(727) 530-7700

Lincare Holdings Inc. Announces Second Quarter and First Half 2007 Financial Results

Clearwater, Florida (July 23, 2007) — Lincare Holdings Inc. (NASDAQ:LNCR), a leading provider of oxygen and other respiratory therapy services delivered to patients in the home, today announced financial results for the three and six months ended June 30, 2007.

For the quarter ended June 30, 2007, revenues were $397.1 million, a 13.4% increase over revenues of $350.1 million for the second quarter of 2006. The Company estimates that the increase in net revenues was comprised of approximately 10.4% internal growth and 4.5% growth from acquisitions, partially offset by Medicare price changes taking effect in 2007. Net income for the quarter ended June 30, 2007, was $56.0 million compared to net income of $51.9 million for the second quarter of 2006. Diluted earnings per share were $0.63 for the quarter ended June 30, 2007, compared with $0.52 diluted earnings per share for the comparable prior year period.

Revenues for the six months ended June 30, 2007, were $775.5 million, a 13.4% increase over revenues of $683.7 million for the comparable period in 2006. The Company estimates that the increase in net revenues was comprised of approximately 10.2% internal growth and 4.6% growth from acquisitions, partially offset by Medicare price changes taking effect in 2007. Net income for the six months ended June 30, 2007, was $109.9 million compared to net income of $99.8 million for the first half of 2006. Diluted earnings per share were $1.23 for the six months ended June 30, 2007, compared with $1.00 diluted earnings per share for the comparable period last year.

Lincare added nine new operating centers in the second quarter derived from internal development. The total number of Lincare locations expanded to 999 at the end of the second quarter. During the first half of 2007, Lincare opened 21 new locations.

John P. Byrnes, Lincare’s Chief Executive Officer, said, “We are pleased with Lincare’s operating and financial performance in the first half of 2007. We are experiencing strong customer growth and expanding market share in our core businesses and continue to expand by opening denovo locations in new and contiguous geographic markets.”

Mr. Byrnes added, “Our financial position is strong and we achieved significant operating cash flows in the first six months of 2007.” Lincare generated $170.1 million of cash from operating activities and invested $65.5 million in net capital expenditures during the first half of 2007. Total debt was $481.6 million and cash and cash equivalents were $23.7 million at June 30, 2007.

Lincare, headquartered in Clearwater, Florida, is one of the nation’s largest providers of oxygen and other respiratory therapy services to patients in the home. The Company provides services and equipment to nearly 700,000 customers in 47 states.

Statements in this release concerning future results, performance or expectations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All forward-looking statements included in this document are based upon information available to Lincare as of the date hereof and Lincare assumes no obligation to update any such forward-looking

statements. These statements involve known and unknown risks, uncertainties and other factors that may cause Lincare’s actual results, levels of activity, performance or achievements to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statements. In some cases, forward-looking statements that involve risks and uncertainties contain terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or variations of these terms or other comparable terminology.

Key factors that have an impact on Lincare’s ability to attain any estimates contained in this release include potential reductions in reimbursement rates by government and other third party payors, changes in reimbursement policies, the demand for Lincare’s products and services, the availability of appropriate acquisition candidates and Lincare’s ability to successfully complete and integrate acquisitions, efficient operation of Lincare’s existing and future operating facilities, regulation and/or regulatory action affecting Lincare or its business, economic and competitive conditions, access to borrowed and/or equity capital on favorable terms and other risks described in the filings of Lincare with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2006.

In developing its forward-looking statements, Lincare has made certain assumptions relating to reimbursement rates and policies, internal growth and acquisitions and the outcome of various legal and regulatory proceedings. If the assumptions used by Lincare differ materially from what actually occurs, then actual results could vary significantly from the performance projected in the forward-looking statements. Lincare is under no duty to update any of the forward-looking statements after the date of this release.

LINCARE HOLDINGS INC.

Financial Summary

(Unaudited)

(In thousands, except share and per share data)

	For the three months ended
	June 30, 2007		June 30, 2006
Net revenues	$	397,083	$	350,127
Costs and expenses:
Costs of goods and services		99,962		77,892
Operating expenses		89,597		81,781
Selling, general and administrative expenses		79,695		73,560
Bad debt expense		5,956		5,252
Depreciation expense		27,703		24,655
Amortization expense		66		422
Operating income		94,104		86,565
Interest expense, net		5,230		1,725
Income before income taxes		88,874		84,840
Income taxes		32,919		32,935
Net income	$	55,955	$	51,905
Basic earnings per common share	$	0.66	$	0.55
Diluted earnings per common share	$	0.63	$	0.52
Weighted average number of common shares outstanding		84,166,994		95,037,267
Weighted average number of common shares and common share equivalents outstanding		90,493,933		101,751,101

	For the six months ended
	June 30, 2007		June 30, 2006
Net revenues	$	775,542	$	683,718
Costs and expenses:
Costs of goods and services		188,096		152,293
Operating expenses		181,481		160,875
Selling, general and administrative expenses		156,062		144,053
Bad debt expense		11,633		10,256
Depreciation expense		53,604		49,163
Amortization expense		133		841
Operating income		184,533		166,237
Interest expense, net		9,606		3,546
Income before income taxes		174,927		162,691
Income taxes		65,077		62,900
Net income	$	109,850	$	99,791
Basic earnings per common share	$	1.29	$	1.05
Diluted earnings per common share	$	1.23	$	1.00
Weighted average number of common shares outstanding		85,277,815		95,412,269
Weighted average number of common shares and common share equivalents outstanding		91,668,160		102,312,599

LINCARE HOLDINGS INC.

Selected Balance Sheet Data

(Unaudited)

(In thousands)

	June 30, 2007		December 31, 2006
Cash and cash equivalents	$	23,742	$	25,075
Accounts Receivable, Net		201,114		170,533
Current Assets		262,591		242,279
Total Assets		1,806,753		1,775,310
Current Liabilities		622,912		189,464
Total Debt		481,644		346,047
Stockholders’ Equity		990,306		1,110,577