Addus HomeCare (NASDAQ: ADUS) reported Q4 EPS of $0.55, $0.04 better than the analyst estimate of $0.51. Revenue for the quarter came in at $139.8 million versus the consensus estimate of $139.66 million.

"Addus delivered solid results for the fourth quarter of 2018, marking a strong finish to our year," remarked Dirk Allison, President and Chief Executive Officer of Addus HomeCare Corporation. "We are pleased with the positive trends in revenue growth for the fourth quarter, with personal care net service revenues up 15.9%, reflecting a 13.2% increase in billable hours per business day and a 0.8% increase in revenue per billable hour, compared with the fourth quarter of 2017. Same-store revenue increased 2.4% for the fourth quarter, below our target range of 3% to 5%, primarily due to the exclusion of a rate increase to offset the Chicago minimum wage increase in the Illinois current fiscal year budget.

"Our results in 2018 reflect execution of our growth strategy, as we completed several key acquisitions during the year that added over $100 million in annualized revenue. As expected, we completed the integration of Arcadia and Ambercare during the fourth quarter, allowing us to further expand our market share and diversify our client base in targeted markets," added Mr. Allison.

Mr. Allison concluded, "Looking ahead to 2019, we believe we are well positioned to achieve further profitable growth both from our current operations and acquisitions. Our objectives for organic growth for the year are consistent with our targeted range of 3% to 5% for same-store revenue growth. In addition, we previously announced a definitive agreement to purchase VIP Health Care Services, with annual revenues of approximately $50 million, and we expect to close this transaction during the second quarter of 2019. We continue to pursue other potential acquisitions in 2019 that fit with our strategic plan, and we have the financial strength to pursue additional growth opportunities that we believe will enhance our market presence and add shareholder value."

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