Amedisys to Host Conference Call Today at 10:00 a.m. ET
BATON ROUGE, La.--(BUSINESS WIRE)--
Amedisys, Inc. (NASDAQ: AMED), a leading home health and hospice
company, today reported its financial results for the first quarter
ended March 31, 2012.
Three-Month Periods Ended March 31, 2012 and 2011
-
Net service revenue of $370.8 million compared to $359.3 million in
2011, an increase of $11.5 million or 3.2%.
-
Net income from continuing operations attributable to Amedisys, Inc.,
of $6.5 million compared to $16.9 million in 2011, a decrease of 61.8%.
-
Net income from continuing operations attributable to Amedisys, Inc.
per diluted share of $0.22 compared to $0.59 per diluted share in
2011, a decrease of 62.7%.
-
Earnings before interest, taxes, depreciation and amortization
attributable to continuing operations (“EBITDA”) of $23.2 million
compared to $39.3 million in 2011, a decrease of 41.0%.
William F. Borne, Chief Executive Officer, stated, “Results for the
quarter met our expectations, and we are on track to meet our plans for
the year. We believe the organizational changes we implemented in the
second half of 2011 are having a positive impact on results.”
“The health care industry is in the midst of significant changes brought
on by cost pressures and reform legislation,” continued Mr. Borne. “We
see opportunity in these changes and are working to position the company
for the industry’s long term favorable trends, including patient
preference for care delivered at home, the lowest cost setting for care
and growing demographics.”
2012 Guidance
• Net service revenue is anticipated to be in the range of $1.475
billion to $1.525 billion.
• Diluted earnings per share is expected to be in the range of $0.95 and
$1.10 based on an estimated 30.2 million shares outstanding.
This guidance excludes the effects of any future acquisitions, if any
are made; effects of any share repurchases; any non-recurring costs or
charges that may be incurred during the year or the impact of any future
Medicare rate changes.
We urge caution in considering the current trends and 2012 guidance
disclosed in this press release. The home health and hospice industry is
highly competitive and subject to intensive regulations, and trends and
guidance 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, 2011, 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.
We disclaim any obligations to update disclosed information on trends.
Earnings Call and Webcast Information
To participate in the conference call, please dial (866) 719-0110 (Toll
free) or (719) 325-2308 (Toll) a few minutes before 10:00 a.m. ET on
Tuesday, May 8, 2012. A replay of the conference call will be available
through May 15, 2012. The replay dial in number is (888) 203-1112 (Toll
free) or (719) 457-0820 (Toll). The replay pin number is 1192047.
The call will also be available through our website and for seven days
thereafter at the following web address: http://www.amedisys.com/investors.
We are headquartered in Baton Rouge, Louisiana. Our common stock trades
on the NASDAQ Global Select Market under the symbol “AMED.”
Additional information
Our company website address is www.amedisys.com.
We use our website as a channel of distribution for important company
information. Important information, including press releases, analyst
presentations and financial information regarding our company, is
routinely posted on and accessible on the Investor Relations subpage of
our website, which is accessible by clicking on the tab labeled
“Investors” on our website home page. We also use our website to
expedite public access to time-critical information regarding our
company in advance of or in lieu of distributing a press release or a
filing with the SEC disclosing the same information. Therefore,
investors should look to the Investor Relations subpage of our website
for important and time-critical information. Visitors to our website can
also register to receive automatic e-mail and other notifications
alerting them when new information is made available on the Investor
Relations subpage of our website.
Forward-Looking Statements
When included in this press release, words like “believes,” “belief,”
“expects,” “plans,” “anticipates,” “intends,” “projects,” “estimates,”
“may,” “might,” “would,” “should” and similar expressions are intended
to identify forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve a variety of risks and uncertainties that could cause
actual results to differ materially from those described therein. These
risks and uncertainties include, but are not limited to the following:
changes in Medicare and other medical payment levels, our ability to
open care centers, acquire additional care centers and integrate and
operate these care centers effectively, changes in or our failure to
comply with existing Federal and State laws or regulations or the
inability to comply with new government regulations on a timely basis,
competition in the home health industry, changes in the case mix of
patients and payment methodologies, changes in estimates and judgments
associated with critical accounting policies, our ability to maintain or
establish new patient referral sources, our ability to attract and
retain qualified personnel, changes in payments and covered services due
to the economic downturn and deficit spending by Federal and State
governments, future cost containment initiatives undertaken by
third-party payors, our access to financing due to the volatility and
disruption of the capital and credit markets, our ability to meet debt
service requirements and comply with covenants in debt agreements,
business disruptions due to natural disasters or acts of terrorism, our
ability to integrate and manage our information systems, changes in or
developments with respect to any litigation or investigations relating
to the Company, including the SEC investigation and the U.S. Department
of Justice Civil Investigative Demand and various other matters, many of
which are beyond our control.
Because forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified, you
should not rely on any forward-looking statement as a prediction of
future events. We expressly disclaim any obligation or undertaking and
we do not intend to release publicly any updates or changes in our
expectations concerning the forward-looking statements or any changes in
events, conditions or circumstances upon which any forward-looking
statement may be based, except as required by law.
Non-GAAP Financial Measures
This press release includes the following non-GAAP financial measure as
defined under SEC rules: EBITDA, defined as net income from continuing
operations attributable to Amedisys, Inc. before provision for income
taxes, net interest expense and depreciation and amortization. In
accordance with SEC rules, we have provided herein a reconciliation of
this non-GAAP financial measure to the most directly comparable measure
under GAAP. Management believes that this is a useful gauge of our
performance and is a common measure used in our industry to assess
relative financial performance among companies.
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AMEDISYS, INC. AND SUBSIDIARIES |
SELECT CONSOLIDATED FINANCIAL STATEMENT DATA AND SUPPLEMENTAL
INFORMATION |
(Amounts in thousands, except share, per share data and
statistical information) |
(Unaudited) |
|
|
Balance Sheet Information |
|
|
|
| March 31, 2012 |
| December 31, 2011 |
| ASSETS | | | | |
|
Current assets:
| | | | |
|
Cash and cash equivalents
| |
$
|
41,290
| | |
$
|
48,004
| |
|
Patient accounts receivable, net of allowance for doubtful accounts
of $18,607 and $17,438 | | |
161,834
| | | |
148,061
| |
|
Prepaid expenses
| | |
12,765
| | | |
11,321
| |
|
Other current assets
| |
|
22,072
|
| |
|
24,630
|
|
| | | |
|
|
Total current assets
| | |
237,961
| | | |
232,016
| |
| | | |
|
|
Property and equipment, net of accumulated depreciation of $101,941,
and $94,266 | | |
143,965
| | | |
148,536
| |
|
Goodwill
| | |
334,695
| | | |
334,695
| |
|
Intangible assets, net of accumulated amortization of $21,314 and
$20,611 | | |
49,364
| | | |
50,067
| |
|
Deferred tax asset
| | |
65,674
| | | |
68,649
| |
|
Other assets, net
| |
|
23,721
|
| |
|
24,322
|
|
| | | |
|
|
Total assets
| |
$
|
855,380
|
| |
$
|
858,285
|
|
| | | |
|
| LIABILITIES AND EQUITY | | | | |
|
Current Liabilities:
| | | | |
|
Accounts payable
| |
$
|
20,532
| | |
$
|
25,475
| |
|
Payroll and employee benefits
| | |
87,334
| | | |
82,130
| |
|
Accrued expenses
| | |
65,845
| | | |
68,493
| |
|
Current portion of long-term obligations
| | |
68,513
| | | |
33,888
| |
|
Current portion of deferred income taxes
| |
|
10,193
|
| |
|
11,748
|
|
| | | |
|
|
Total current liabilities
| | |
252,417
| | | |
221,734
| |
|
Long-term obligations, less current portion
| | |
68,376
| | | |
111,551
| |
|
Other long-term obligations
| |
|
4,613
|
| |
|
4,852
|
|
| | | |
|
|
Total liabilities
| |
|
325,406
|
| |
|
338,137
|
|
| | | |
|
|
Equity:
| | | | |
|
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none
issued or outstanding
| | |
—
| | | |
—
| |
|
Common stock, $0.001 par value, 60,000,000 shares authorized;
31,443,152 and 31,017,363 share issued; and 30,730,529 and
30,328,549 share outstanding
| | |
31
| | | |
30
| |
|
Additional paid-in capital
| | |
437,024
| | | |
432,390
| |
|
Treasury stock at cost, 712,623 and 688,814 shares of common stock
| | |
(16,044
|
)
| | |
(15,770
|
)
|
|
Accumulated other comprehensive income
| | |
15
| | | |
13
| |
|
Retained earnings
| |
|
107,625
|
| |
|
102,205
|
|
| | | |
|
|
Total Amedisys, Inc. stockholders’ equity
| | |
528,651
| | | |
518,868
| |
|
Noncontrolling interests
| |
|
1,323
|
| |
|
1,280
|
|
| | | |
|
|
Total equity
| |
|
529,974
|
| |
|
520,148
|
|
| | | |
|
|
Total liabilities and equity
| |
$
|
855,380
|
| |
$
|
858,285
|
|
|
|
|
|
|
|
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Income Statement Information |
|
|
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| For the Three-Month Periods Ended March 31, |
| | 2012 |
| 2011 |
|
Net service revenue
| |
$
|
370,833
| | |
$
|
359,314
| |
|
Cost of service, excluding depreciation and amortization
| | |
208,506
| | | |
187,304
| |
|
General and administrative expenses:
| | | | |
|
Salaries and benefits
| | |
87,077
| | | |
83,388
| |
|
Non-cash compensation
| | |
2,482
| | | |
1,910
| |
|
Other
| | |
44,394
| | | |
44,296
| |
|
Provision for doubtful accounts
| | |
5,863
| | | |
3,114
| |
|
Depreciation and amortization
| |
|
10,054
|
| |
|
9,180
|
|
| | | |
|
|
Operating expenses
| |
|
358,376
|
| |
|
329,192
|
|
| | | |
|
|
Operating income
| | |
12,457
| | | |
30,122
| |
|
Other (expense) income
| | | | |
|
Interest income
| | |
15
| | | |
118
| |
|
Interest expense
| | |
(2,074
|
)
| | |
(2,252
|
)
|
|
Equity in earnings from equity investments
| | |
305
| | | |
323
| |
|
Miscellaneous, net
| |
|
429
|
| |
|
(295
|
)
|
| | | |
|
|
Total other expense, net
| |
|
(1,325
|
)
| |
|
(2,106
|
)
|
| | | |
|
|
Income before income taxes
| | |
11,132
| | | |
28,016
| |
|
Income tax expense
| |
|
(4,620
|
)
| |
|
(11,058
|
)
|
| | | |
|
|
Income from continuing operations
| | |
6,512
| | | |
16,958
| |
|
Discontinued operations, net of tax
| |
|
(1,049
|
)
| |
|
(1,634
|
)
|
| | | |
|
|
Net income
| | |
5,463
| | | |
15,324
| |
|
Net (income) attributable to noncontrolling interests
| |
|
(43
|
)
| |
|
(36
|
)
|
| | | |
|
|
Net income attributable to Amedisys, Inc. | |
$
|
5,420
|
| |
$
|
15,288
|
|
| | | |
|
| Basic earnings per common share:
| | | | |
|
Income from continuing operations attributable to Amedisys, Inc.
common stockholders
| |
$
|
0.22
| | |
$
|
0.60
| |
|
Discontinued operations, net of tax
| |
|
(0.04
|
)
| |
|
(0.06
|
)
|
| | | |
|
|
Net income attributable to Amedisys, Inc. common stockholders
| |
$
|
0.18
|
| |
$
|
0.54
|
|
| | | |
|
|
Weighted average shares outstanding
| |
|
29,389
|
| |
|
28,366
|
|
| | | |
|
|
Diluted earnings per common share:
| | | | |
|
Income from continuing operations attributable to Amedisys, Inc.
common stockholders
| |
$
|
0.22
| | |
$
|
0.59
| |
|
Discontinued operations, net of tax
| |
|
(0.04
|
)
| |
|
(0.06
|
)
|
| | | |
|
|
Net income attributable to Amedisys, Inc. common stockholders
| |
$
|
0.18
|
| |
$
|
0.53
|
|
| | | |
|
|
Weighted average shares outstanding
| |
|
29,780
|
| |
|
28,867
|
|
| | | |
|
|
Amounts attributable to Amedisys, Inc. common stockholders:
| | | | |
|
Income from continuing operations
| |
$
|
6,469
| | |
$
|
16,922
| |
|
Discontinued operations, net of tax
| |
|
(1,049
|
)
| |
|
(1,634
|
)
|
| | | |
|
|
Net income
| |
$
|
5,420
|
| |
$
|
15,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flow Information |
|
|
|
| For the Three-Month Periods ended March 31, |
| | 2012 |
| 2011 |
|
Net cash provided by operating activities
| |
$
|
11,871
| | |
$
|
52,554
| |
|
Net cash used in investing activities
| | |
(10,053
|
)
| | |
(15,946
|
)
|
|
Net cash used in financing activities
| |
|
(8,532
|
)
| |
|
(8,035
|
)
|
| | | |
|
|
Net increase (decrease) in cash and cash equivalents
| | |
(6,714
|
)
| | |
28,573
| |
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Cash and cash equivalents at beginning of period
| |
|
48,004
|
| |
|
120,295
|
|
| | | |
|
|
Cash and cash equivalents at end of period
| |
$
|
41,290
|
| |
$
|
148,868
|
|
|
|
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|
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|
Home Health Division |
|
The following table summarizes our home health segment results
from continuing operations:
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|
| For the Three-Month Periods Ended March 31, |
| | 2012 |
| 2011 |
| | Same Store |
| Start-ups/ Acquisitions |
| Total | | Same Store |
| Other(1) |
| Total |
| Financial Information (in millions): | | | | | | | | | | | | |
|
Episodic-based revenue
| |
$
|
275.9
| | |
$
|
1.5
| | | $ | 277.4 | | |
$
|
295.7
| |
$
|
7.0
| | | $ | 302.7 |
|
Non-episodic revenue
| |
|
23.8
|
| |
|
0.2
|
| |
| 24.0 |
| |
|
18.0
| |
|
0.1
|
| |
| 18.1 |
| | | | | | | | | | | |
|
|
Net service revenue
| | |
299.7
| | | |
1.7
| | | | 301.4 | | | |
313.7
| | |
7.1
| | | | 320.8 |
Episodic-based revenue growth(2) | |
| (7 | %) | | | |
| (8 | %) | | | | | | |
| | | | | | | | | | | |
|
|
Cost of service
| |
|
170.9
|
| |
|
1.1
|
| |
| 172.0 |
| |
|
163.0
| |
|
4.1
|
| |
| 167.1 |
| | | | | | | | | | | |
|
|
Gross margin
| | |
128.8
| | | |
0.6
| | | | 129.4 | | | |
150.7
| | |
3.0
| | | | 153.7 |
|
Other operating expenses
| |
|
77.8
|
| |
|
0.9
|
| |
| 78.7 |
| |
|
74.9
| |
|
4.7
|
| |
| 79.6 |
| | | | | | | | | | | |
|
|
Operating income
| |
$
|
51.0
|
| |
$
|
(0.3
|
)
| | $ | 50.7 |
| |
$
|
75.8
| |
$
|
(1.7
|
)
| | $ | 74.1 |
| | | | | | | | | | | |
|
| Key Statistical Data: | | | | | | | | | | | | |
| Admissions: | | | | | | | | | | | | |
|
Episodic-based
| | |
59,458
| | | |
416
| | | | 59,874 | | | |
59,796
| | |
1,611
| | | | 61,407 |
|
Non-episodic
| |
|
14,368
|
| |
|
103
|
| |
| 14,471 |
| |
|
10,405
| |
|
141
|
| |
| 10,546 |
| | | | | | | | | | | |
|
|
Total admissions
| |
|
73,826
|
| |
|
519
|
| |
| 74,345 |
| |
|
70,201
| |
|
1,752
|
| |
| 71,953 |
| | | | | | | | | | | |
|
Episodic-based admission growth(2) | |
| (1 | %) | | | |
| (2 | %) | | | | | | |
| | | | | | | | | | | |
|
| Recertifications: | | | | | | | | | | | | |
|
Episodic-based
| | |
40,648
| | | |
151
| | | | 40,799 | | | |
42,535
| | |
726
| | | | 43,261 |
|
Non-episodic
| |
|
4,707
|
| |
|
19
|
| |
| 4,726 |
| |
|
4,204
| |
|
37
|
| |
| 4,241 |
| | | | | | | | | | | |
|
|
Total recertifications
| |
|
45,355
|
| |
|
170
|
| |
| 45,525 |
| |
|
46,739
| |
|
763
|
| |
| 47,502 |
| | | | | | | | | | | |
|
Episodic-based recertification growth(2) | |
| (4 | %) | | | |
| (6 | %) | | | | | | |
| | | | | | | | | | | |
|
| Completed Episodes: | | | | | | | | | | | | |
|
Episodic-based
| |
|
94,297
|
| |
|
426
|
| |
| 94,723 |
| |
|
95,768
| |
|
2,248
|
| |
| 98,016 |
| | | | | | | | | | | |
|
| Visits: | | | | | | | | | | | | |
|
Episodic-based
| | |
1,870,919
| | | |
9,233
| | | | 1,880,152 | | | |
1,865,242
| | |
43,553
| | | | 1,908,795 |
|
Non-episodic
| |
|
248,046
|
| |
|
1,673
|
| |
| 249,719 |
| |
|
195,981
| |
|
1,827
|
| |
| 197,808 |
| | | | | | | | | | | |
|
|
Total visits
| |
|
2,118,965
|
| |
|
10,906
|
| |
| 2,129,871 |
| |
|
2,061,223
| |
|
45,380
|
| |
| 2,106,603 |
| | | | | | | | | | | |
|
| Cost per Visit | |
$
|
80.65
|
| |
$
|
101.94
|
| | $ | 80.76 |
| |
$
|
79.05
| |
$
|
91.25
|
| | $ | 79.31 |
| | | | | | | | | | | |
|
Average episodic-based revenue per completed episode(3) | |
$
|
2,853
|
| |
$
|
3,061
|
| | $ | 2,854 |
| |
$
|
3,025
| |
$
|
3,178
|
| | $ | 3,028 |
| | | | | | | | | | | |
|
Episodic-based visits per completed episode(4) | |
|
18.7
|
| |
|
17.9
|
| |
| 18.7 |
| |
|
18.5
| |
|
19.4
|
| |
| 18.5 |
|
|
(1) Care centers for the prior period which are not considered
same store care centers (i.e., care centers consolidated in prior
period or unopened startups).
|
(2) Episodic-based revenue, admissions or recertifications growth
is the percent increase in our episodic-based revenue, admissions
or recertifications for the period as a percent of the
episodic-based revenue, admissions or recertifications of the
prior period.
|
(3) Average episodic-based revenue per completed episode is the
average episodic-based revenue earned for each episodic-based
completed episode of care.
|
(4) Episodic-based visits per completed episode are the home
health episodic-based visits on completed episodes divided by the
home health episodic-based episodes completed during the period.
|
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|
Hospice Division |
|
|
The following table summarizes our hospice segment results from
continuing operations:
|
|
|
|
| For the Three-Month Periods Ended March 31, |
| | 2012 |
| 2011 |
| | Same Store |
| Start-ups/ Acquisitions |
| Total | | Same Store |
| Other(1) |
| Total |
| Financial Information (in millions): | | | | | | | | | | | | |
| Medicare revenue
| |
$
|
41.9
| | |
$
|
23.4
| | $ | 65.3 | | |
$
|
35.7
| |
$
|
0.4
| | | $ | 36.1 |
|
Non-Medicare revenue
| |
|
2.8
|
| |
|
1.3
| |
| 4.1 |
| |
|
2.3
| |
|
0.1
|
| |
| 2.4 |
| | | | | | | | | | | |
|
|
Net service revenue
| | |
44.7
| | | |
24.7
| | | 69.4 | | | |
38.0
| | |
0.5
| | | | 38.5 |
Medicare revenue growth(2) | |
| 17 | % | | | |
| 81 | % | | | | | | |
| | | | | | | | | | | |
|
|
Cost of service
| |
|
23.0
|
| |
|
13.5
| |
| 36.5 |
| |
|
19.6
| |
|
0.6
|
| |
| 20.2 |
| | | | | | | | | | | |
|
|
Gross margin
| | |
21.7
| | | |
11.2
| | | 32.9 | | | |
18.4
| | |
(0.1
|
)
| | | 18.3 |
|
Other operating expenses
| |
|
8.7
|
| |
|
5.1
| |
| 13.8 |
| |
|
7.2
| |
|
0.8
|
| |
| 8.0 |
| | | | | | | | | | | |
|
|
Operating income
| |
$
|
13.0
|
| |
$
|
6.1
| | $ | 19.1 |
| |
$
|
11.2
| |
$
|
(0.9
|
)
| | $ | 10.3 |
| | | | | | | | | | | |
|
| Key Statistical Data: | | | | | | | | | | | | |
|
Hospice admits
| | |
3,298
| | | |
1,604
| | | 4,902 | | | |
3,110
| | |
53
| | | | 3,163 |
|
Hospice days
| | |
327,885
| | | |
144,364
| | | 472,249 | | | |
278,022
| | |
3,273
| | | | 281,295 |
|
Average daily census
| | |
3,603
| | | |
1,587
| | | 5,190 | | | |
3,089
| | |
36
| | | | 3,125 |
|
Revenue per day
| |
$
|
136.31
| | |
$
|
171.51
| | $ | 147.07 | | |
$
|
136.83
| |
$
|
139.93
| | | $ | 136.87 |
|
Cost of service per day
| |
$
|
69.97
| | |
$
|
93.33
| | $ | 77.10 | | |
$
|
70.73
| |
$
|
170.42
| | | $ | 71.89 |
|
Average length of stay
| | |
91
| | | |
92
| | | 91 | | | |
88
| | |
56
| | | | 88 |
|
|
(1) Care centers for the prior period which are not considered
same store care centers (i.e. care centers consolidated in prior
period or unopened startups).
|
(2) Medicare revenue growth is the percent increase in our
Medicare revenue for the period as a percent of the Medicare
revenue of the prior period.
|
|
|
|
|
|
|
|
|
|
|
|
|
AMEDISYS, INC. AND SUBSIDIARIES |
SELECT CONSOLIDATED KEY STATISTICAL DATA AND |
RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO GAAP FINANCIAL
STATEMENTS |
(Amounts in thousands, except per share data) |
(Unaudited) |
|
|
|
| For the Three-Month Periods Ended March 31, |
| | 2012 |
| 2011 |
| Key Statistical Data: | | | | |
General | | | | |
|
Number of home health care centers
| |
437
| |
489
|
|
Number of hospice care centers
| |
88
| |
69
|
Number of care centers opened as start-up locations(1)
| |
2
| |
6
|
Days revenue outstanding, net(2)
| |
38.4
| |
34.8
|
|
|
(1) Includes both home health and hospice care centers.
|
(2) Our calculation of days revenue outstanding, net at March 31,
2012 and 2011 is derived by dividing our ending patient accounts
receivable (i.e., net of estimated revenue adjustments and
allowance for doubtful accounts) by our average daily net patient
revenue for the three month-period ended March 31, 2012 and 2011,
respectively.
|
|
|
|
|
Earnings From Continuing Operations Before Interest, Taxes,
Depreciation and Amortization (“EBITDA”) |
|
|
|
| For the Three-Month Periods Ended March 31, |
| | 2012 |
| 2011 |
|
Net income from continuing operations attributable to Amedisys, Inc. | |
$
|
6,469
| |
$
|
16,922
|
|
Add:
| | | | |
|
Provision for income taxes
| | |
4,620
| | |
11,058
|
|
Interest expense, net
| | |
2,059
| | |
2,134
|
|
Depreciation and amortization
| |
|
10,054
| |
|
9,180
|
| | | |
|
EBITDA(1)
| |
$
|
23,202
| |
$
|
39,294
|
|
|
(1) EBITDA is defined as net income from continuing operations
attributable to Amedisys, Inc. before provision for income taxes,
net interest expense, and depreciation and amortization. EBITDA
should not be considered as an alternative to, or more meaningful
than, income before income taxes, cash flow from operating
activities, or other traditional indicators of operating
performance. This calculation of EBITDA may not be comparable to a
similarly titled measure reported by other companies, since not
all companies calculate this non-GAAP financial measure in the
same manner.
|
|
|
|
|
|
|
Amedisys, Inc.
Investor Contact:
Kevin
LeBlanc, 225-292-2031
Director of Investor Relations
[email protected]
or
Media
Contact:
Jacqueline Chen Valencia, 225-299-3688
Senior
Vice President
Marketing & Communications
[email protected]
Source: Amedisys, Inc.