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Amedisys (AMED) Reports Second Quarter 2017 Financial Results



7/27/2017 12:40:28 PM

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BATON ROUGE, La., July 26, 2017 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ:AMED) today reported its financial results for the three and six-month periods ended June 30, 2017.

Three Month Periods Ended June 30, 2017 and 2016

  • Net service revenue increased $18.1 million to $378.8 million compared to $360.7 million in 2016.
  • Net income attributable to Amedisys, Inc. of $4.5 million compared to $10.7 million in 2016.
  • Net income attributable to Amedisys, Inc. per diluted share of $0.13 compared to $0.32 in 2016.

Adjusted Quarterly Results*

  • Adjusted EBITDA of $36.1 million compared to $29.8 million in 2016.
  • Adjusted net service revenue of $378.8 million compared to $361.7 million in 2016.
  • Adjusted net income attributable to Amedisys, Inc. of $21.4 million compared to $14.1 million in 2016.
  • Adjusted net income attributable to Amedisys, Inc. per diluted share of $0.62 compared to $0.42 in 2016.

Six Month Periods Ended June 30, 2017 and 2016

  • Net service revenue increased $39.7 million to $749.3 million compared to $709.6 million in 2016.
  • Net income attributable to Amedisys, Inc. of $19.6 million compared to $16.9 million in 2016.
  • Net income attributable to Amedisys, Inc. per diluted share of $0.57 compared to $0.50 in 2016.

Adjusted Year to Date Results*

  • Adjusted EBITDA of $68.1 million compared to $53.8 million in 2016.
  • Adjusted net service revenue of $749.3 million compared to $710.5 million in 2016.
  • Adjusted net income attributable to Amedisys, Inc. of $37.4 million compared to $25.0 million in 2016.
  • Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.09 compared to $0.74 in 2016.

* See pages 12 and 13 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.

Paul B. Kusserow, President and Chief Executive Officer stated, “Overall, I am satisfied with our second quarter results. Our hospice segment continues to exceed expectations and our personal care segment is progressing well as they continue to integrate acquisitions and scale up. We have also made early progress with our strategies to recruit, retain, train and properly incentivize our home health business development staff. While home health volume was expectedly soft, we have identified the issues driving this trend and are executing upon the solutions. In home health, we anticipate returning to organic episodic admission growth in the third quarter. Most importantly, our clinical and outcomes metrics continued to improve across the board as we pursue our goal of clinical distinction to bring value to our patients, their families, our referral sources and payors. Finally, the operational efficiencies we have targeted are being reflected in increased adjusted EBITDA margins and strong cash flow, providing us with a flexible balance sheet to take advantage of strategic, inorganic opportunities. Thanks to our tremendous team, over 16,000 strong, for their continued dedication to serving our patients.”

We urge caution in considering the current trends disclosed in this press release. The home health and hospice industry is highly competitive and subject to intensive regulations, and trends are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission (“SEC”) including our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SEC’s internet website, http://www.sec.gov, and our internet website, http://www.amedisys.com.

Earnings Call and Webcast Information


Read at GlobeNewswire


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