BATON ROUGE, La., July 31, 2019 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three and six-month periods ended June 30, 2019.

Three Month Periods Ended June 30, 2019 and 2018

• Net service revenue increased $81.4 million to $493.0 million compared to $411.6 million in 2018.
• Net income attributable to Amedisys, Inc. of $33.7 million compared to $33.3 million in 2018.
• Net income attributable to Amedisys, Inc. per diluted share of $1.02 compared to $0.98 in 2018.

Adjusted Quarterly Results*

• Adjusted EBITDA of $61.4 million compared to $49.7 million in 2018.
• Adjusted net service revenue of $498.5 million compared to $413.3 million in 2018.
• Adjusted net income attributable to Amedisys, Inc. of $39.9 million compared to $34.1 million in 2018.
• Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.21 compared to $1.00 in 2018.

Six Month Periods Ended June 30, 2019 and 2018

• Net service revenue increased $149.4 million to $960.3 million compared to $810.9 million in 2018.
• Net income attributable to Amedisys, Inc. of $65.0 million compared to $60.5 million in 2018.
• Net income attributable to Amedisys, Inc. per diluted share of $1.98 compared to $1.76 in 2018.

Adjusted Year to Date Results*

• Adjusted EBITDA of $116.2 million compared to $91.4 million in 2018.
• Adjusted net service revenue of $966.3 million compared to $812.6 million in 2018.
• Adjusted net income attributable to Amedisys, Inc. of $76.3 million compared to $61.4 million in 2018.
• Adjusted net income attributable to Amedisys, Inc. per diluted share of $2.32 compared to $1.79 in 2018.

* 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, “I am very proud of our second quarter results as we continue to best internal and external expectations. Most importantly and core to what we do, our growth allows us to bring clinical excellence to even more patients across home health, hospice and personal care. Providing our clinically distinct services to as many patients wherever they call home is why we get out of bed every morning and I am thankful to our team of over 21,000 employees for continuing to do all that you do to drive such impressive results and provide such incredible care.”

Updated 2019 Guidance

• Net service revenue is anticipated to be in the range of $1.94 billion to $1.98 billion.
• Adjusted EBITDA is anticipated to be in the range of $213 million to $216 million.
• Adjusted diluted earnings per share is anticipated to be in the range of $4.05 to $4.12 based on an estimated 33.1 million shares outstanding.

This guidance excludes the effects of any future acquisitions, if any are made.

We urge caution in considering the current trends and 2019 guidance 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, 2018, 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

Amedisys will host a conference call on Thursday, August 1, 2019, at 11:00 a.m. ET to discuss its second quarter results. To participate on the conference call, please call before 11:00 a.m. ET to either (877) 524-8416 (Toll-Free) or (412) 902-1028 (Toll). A replay of the conference call will be available through September 1, 2019 by dialing (877) 660-6853 (Toll-Free) or (201) 612-7415 (Toll) and entering conference ID #13691942.

A live webcast of the call will be accessible through our website on our Investor Relations section at the following web address: http://investors.amedisys.com.

Non-GAAP Financial Measures

This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) to non-GAAP financial measures. The non-GAAP financial measures as defined under SEC rules are as follows: (1) adjusted EBITDA, defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, excluding certain items; (2) adjusted net service revenue, defined as net service revenue excluding certain items; (3) adjusted net income attributable to Amedisys, Inc., defined as net income attributable to Amedisys, Inc. excluding certain items; and (4) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income attributable to Amedisys, Inc. common stockholders per diluted share excluding certain items. Management believes that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. These non-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to the GAAP financial measures presented in this earnings release and the company’s financial statements. Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate these non-GAAP measures consistently.

Additional information

Amedisys, Inc. (the “Company”) is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 3,000 hospitals and 65,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With more than 21,000 employees in 471 care centers within 38 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 376,000 patients and clients in need every year. For more information about the Company, please visit: www.amedisys.com.

We use our website as a channel of distribution for important company information. Important information, including press releases, investor 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. 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 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, 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, competition in the healthcare 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 consistently provide high-quality care, our ability to attract and retain qualified personnel, changes in payments and covered services by federal and state governments, future cost containment initiatives undertaken by third-party payors, our access to financing, 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, manage and keep our information systems secure, our ability to realize the anticipated benefits of the acquisition of Compassionate Care Hospice (“CCH”), our ability to comply with requirements stipulated in the CCH corporate integrity agreement, and changes in law or developments with respect to any litigation relating to the Company, including 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.

Contact:		Investor Contact:		Media Contact:
		Amedisys, Inc.Nick MuscatoVice President, Strategic Finance(855) 259-2046[email protected]		Amedisys, Inc.Kendra KimmonsVice President, Marketing & Communications(225) 299-3720[email protected]

AMEDISYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share data) (Unaudited)

		For the Three-Month Periods Ended June 30								For the Six-Month Periods Ended June 30
		2019				2018				2019				2018
Net service revenue		$	492,984			$	411,603			$	960,324			$	810,865
Cost of service, excluding depreciation and amortization			290,752				242,564				566,026				480,873
General and administrative expenses:
Salaries and benefits			98,356				77,215				193,186				152,846
Non-cash compensation			5,538				3,767				12,153				7,811
Other			48,408				42,104				91,810				83,784
Depreciation and amortization			5,179				3,125				8,074				6,718
Operating expenses			448,233				368,775				871,249				732,032
Operating income			44,751				42,828				89,075				78,833
Other income (expense):
Interest income			20				114				44				234
Interest expense			(4,332	)			(2,140	)			(7,681	)			(3,843	)
Equity in earnings from equity method investments			3,716				2,976				4,932				4,836
Miscellaneous, net			193				359				429				960
Total other (expense) income, net			(403	)			1,309				(2,276	)			2,187
Income before income taxes			44,348				44,137				86,799				81,020
Income tax expense			(10,308	)			(10,596	)			(21,186	)			(20,159	)
Net income			34,040				33,541				65,613				60,861
Net income attributable to noncontrolling interests			(298	)			(192	)			(567	)			(353	)
Net income attributable to Amedisys, Inc.		$	33,742			$	33,349			$	65,046			$	60,508
Basic earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders		$	1.05			$	1.00			$	2.03			$	1.80
Weighted average shares outstanding			32,075				33,439				32,038				33,705
Diluted earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders		$	1.02			$	0.98			$	1.98			$	1.76
Weighted average shares outstanding			32,933				34,179				32,913				34,391

AMEDISYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share data)

		June 30, 2019 (unaudited)				December 31, 2018
ASSETS
Current assets:
Cash and cash equivalents		$	13,902			$	20,229
Patient accounts receivable			239,674				188,972
Prepaid expenses			8,957				7,568
Other current assets			13,252				7,349
Total current assets			275,785				224,118
Property and equipment, net of accumulated depreciation of $98,936 and $95,472			29,762				29,449
Operating lease right of use assets			85,026				—
Goodwill			664,822				329,480
Intangible assets, net of accumulated amortization of $35,402 and $33,050			61,966				44,132
Deferred income taxes			30,213				35,794
Other assets			58,288				54,145
Total assets		$	1,205,862			$	717,118
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	35,690			$	28,531
Payroll and employee benefits			111,660				92,858
Accrued expenses			131,860				99,475
Current portion of long-term obligations			7,610				1,612
Current portion of operating lease liabilities			26,187				—
Total current liabilities			313,007				222,476
Long-term obligations, less current portion			266,468				5,775
Operating lease liabilities, less current portion			57,392				—
Other long-term obligations			6,053				6,234
Total liabilities			642,920				234,485
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; 36,445,591 and 36,252,280 shares issued; and 32,130,184 and 31,973,505 shares outstanding			36				36
Additional paid-in capital			623,309				603,666
Treasury stock, at cost 4,315,407 and 4,278,775 shares of common stock			(246,175	)			(241,685	)
Accumulated other comprehensive income			15				15
Retained earnings			184,596				119,550
Total Amedisys, Inc. stockholders’ equity			561,781				481,582
Noncontrolling interests			1,161				1,051
Total equity			562,942				482,633
Total liabilities and equity		$	1,205,862			$	717,118

AMEDISYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING (Amounts in thousands, except statistical information) (Unaudited)

		For the Three-Month Periods Ended June 30								For the Six-Month Periods Ended June 30
		2019				2018				2019				2018
Cash Flows from Operating Activities:
Net income		$	34,040			$	33,541			$	65,613			$	60,861
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			5,179				3,125				8,074				6,718
Non-cash compensation			5,538				3,767				12,153				7,811
401(k) employer match			2,307				2,327				4,686				4,894
Amortization and impairment of operating lease right of use assets			9,150				—				17,495				—
Loss (gain) on disposal of property and equipment			2				87				(2	)			650
Deferred income taxes			2,606				6,200				5,875				9,145
Equity in earnings from equity method investments			(3,716	)			(2,976	)			(4,932	)			(4,836	)
Amortization of deferred debt issuance costs/debt discount			220				177				433				355
Write off of deferred debt issuance costs			—				38				—				38
Return on equity investment			117				1,579				842				2,204
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable			(1,832	)			(4,656	)			(24,165	)			3,604
Other current assets			2,292				(4,698	)			(8,343	)			(11,680	)
Other assets			282				642				(56	)			688
Accounts payable			1,665				5,146				(9,475	)			3,623
Accrued expenses			10,424				6,355				29,262				4,548
Other long-term obligations			(37	)			(1	)			(181	)			2,347
Operating lease liabilities			(8,061	)			—				(16,200	)			—
Operating lease right of use assets			(910	)			—				(1,754	)			—
Net cash provided by operating activities			59,266				50,653				79,325				90,970
Cash Flows from Investing Activities:
Proceeds from sale of deferred compensation plan assets			5				9				213				471
Proceeds from the sale of property and equipment			81				6				146				11
Investments in equity method investees			(90	)			—				(210	)			—
Purchases of property and equipment			(1,495	)			(149	)			(2,693	)			(1,611	)
Acquisitions of businesses, net of cash acquired			(17,547	)			(1,824	)			(345,414	)			(4,074	)
Net cash used in investing activities			(19,046	)			(1,958	)			(347,958	)			(5,203	)
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options			987				2,484				1,343				2,609
Proceeds from issuance of stock to employee stock purchase plan			752				560				1,534				1,157
Shares withheld upon stock vesting			(1,802	)			(1,527	)			(4,490	)			(2,832	)
Noncontrolling interest distribution			(91	)			(322	)			(457	)			(350	)
Proceeds from borrowings under term loan			—				—				175,000				—
Proceeds from borrowings under revolving line of credit			23,000				127,500				184,500				127,500
Repayments of borrowings under revolving line of credit			(58,000	)			—				(92,000	)			—
Principal payments of long-term obligations			(1,718	)			(87,656	)			(2,277	)			(90,475	)
Debt issuance costs			—				(2,433	)			(847	)			(2,433	)
Purchase of company stock			—				(181,402	)			—				(181,402	)
Net cash (used in) provided by financing activities			(36,872	)			(142,796	)			262,306				(146,226	)
Net increase (decrease) in cash and cash equivalents			3,348				(94,101	)			(6,327	)			(60,459	)
Cash and cash equivalents at beginning of period			10,554				120,005				20,229				86,363
Cash and cash equivalents at end of period		$	13,902			$	25,904			$	13,902			$	25,904
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest		$	3,462			$	1,015			$	4,187			$	2,080
Cash paid for income taxes, net of refunds received		$	7,445			$	3,336			$	7,849			$	6,149
Days revenue outstanding (1)			41.1				41.1				41.1				41.1

(1) Our calculation of days revenue outstanding at June 30, 2019 and 2018 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three month periods ended June 30, 2019 and 2018, respectively.

AMEDISYS, INC. AND SUBSIDIARIES SEGMENT INFORMATION (Amounts in millions, except statistical information) (Unaudited)

Segment Information - Home Health

		For the Three-Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	219.1			$	206.3
Non-Medicare			99.5				85.2
Net service revenue			318.6				291.5
Cost of service			187.8				176.5
Gross margin			130.8				115.0
Other operating expenses			75.1				69.2
Operating income		$	55.7			$	45.8
Same Store Growth (1):
Medicare revenue			6	%			6	%
Non-Medicare revenue			17	%			18	%
Total admissions			7	%			6	%
Total volume (2)			6	%			8	%
Total Episodic admissions (3)			6	%			5	%
Total Episodic volume (4)			4	%			6	%
Key Statistical Data - Total (5):
Medicare:
Admissions			48,870				47,058
Recertifications			27,777				28,431
Total volume			76,647				75,489
Completed episodes			76,302				74,776
Visits			1,322,393				1,318,074
Average revenue per completed episode (6)		$	2,953			$	2,874
Visits per completed episode (7)			17.6				17.8
Non-Medicare:
Admissions			32,893				29,271
Recertifications			15,584				13,891
Total volume			48,477				43,162
Visits			774,093				690,548
Total (5):
Visiting Clinician Cost per Visit		$	81.97			$	80.07
Clinical Manager Cost per Visit			7.65				7.76
Total Cost per Visit		$	89.62			$	87.83
Visits			2,096,486				2,008,622

		For the Six-Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	432.5			$	411.3
Non-Medicare			196.2				164.3
Net service revenue			628.7				575.6
Cost of service			373.5				350.9
Gross margin			255.2				224.7
Other operating expenses			147.5				138.0
Operating income		$	107.7			$	86.7
Same Store Growth (1):
Medicare revenue			5	%			5	%
Non-Medicare revenue			20	%			16	%
Total admissions			7	%			5	%
Total volume (2)			6	%			7	%
Total Episodic admissions (3)			5	%			4	%
Total Episodic volume (4)			4	%			6	%
Key Statistical Data - Total (5):
Medicare:
Admissions			99,190				96,513
Recertifications			54,889				55,667
Total volume			154,079				152,180
Completed episodes			150,280				147,612
Visits			2,653,802				2,632,200
Average revenue per completed episode (6)		$	2,928			$	2,833
Visits per completed episode (7)			17.5				17.5
Non-Medicare:
Admissions			66,542				59,160
Recertifications.			30,267				26,323
Total volume			96,809				85,483
Visits			1,527,772				1,351,481
Total (5):
Visiting Clinician Cost per Visit		$	81.51			$	80.20
Clinical Manager Cost per Visit			7.83				7.88
Total Cost per Visit		$	89.34			$	88.08
Visits			4,181,574				3,983,681

(1) Same store information represents the percent change in our Medicare, Non-Medicare, Total and Episodic revenue, admissions or volume for the period as a percent of the Medicare, Non-Medicare, Total and Episodic revenue, admissions or volume of the prior period. (2) Total volume includes all admissions and recertifications. (3) Total Episodic admissions includes admissions for Medicare and Non-Medicare payors that bill on a 60-day episode of care basis. (4) Total Episodic volume includes admissions and recertifications for Medicare and Non-Medicare payors that bill on a 60-day episode of care basis. (5) Total includes acquisitions and denovos. (6) Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care. (7) Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period.

Segment Information - Hospice

		For the Three-Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	145.8			$	96.9
Non-Medicare			7.4				4.5
Net service revenue			153.2				101.4
Cost of service			87.3				51.7
Gross margin			65.9				49.7
Other operating expenses			35.3				20.6
Operating income		$	30.6			$	29.1
Same Store Growth (1):
Medicare revenue			1	%			13	%
Hospice admissions			7	%			7	%
Average daily census			5	%			12	%
Key Statistical Data - Total (2):
Hospice admissions			10,430				6,746
Average daily census			11,427				7,554
Revenue per day, net		$	147.27			$	147.58
Cost of service per day		$	83.96			$	75.20
Average discharge length of stay			98				97

		For the Six- Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	276.5			$	188.7
Non-Medicare			13.7				10.0
Net service revenue			290.2				198.7
Cost of service			161.4				101.8
Gross margin			128.8				96.9
Other operating expenses			64.7				40.8
Operating income		$	64.1			$	56.1
Same Store Growth (1):
Medicare revenue			5	%			12	%
Hospice admissions			6	%			6	%
Average daily census			7	%			12	%
Key Statistical Data - Total (2):
Hospice admissions			20,141				13,679
Average daily census			10,709				7,385
Revenue per day, net		$	149.72			$	148.66
Cost of service per day		$	83.25			$	76.15
Average discharge length of stay			98				97

(1) Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period. (2) Total includes acquisitions and denovos.

Segment Information - Personal Care

		For the Three-Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	—			$	—
Non-Medicare			21.2				18.7
Net service revenue			21.2				18.7
Cost of service			15.6				14.4
Gross margin			5.6				4.3
Other operating expenses			3.2				3.3
Operating income		$	2.4			$	1.0
Key Statistical Data - Total (1):
Billable hours			848,245				797,228
Clients served			12,962				12,683
Shifts			382,287				356,874
Revenue per hour		$	25.01			$	23.48
Revenue per shift		$	55.49			$	52.45
Hours per shift			2.2				2.2

		For the Six-Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Medicare		$	—			$	—
Non-Medicare			41.4				36.6
Net service revenue			41.4				36.6
Cost of service			31.1				28.2
Gross margin			10.3				8.4
Other operating expenses			6.4				6.6
Operating income		$	3.9			$	1.8
Key Statistical Data - Total (1):
Billable hours			1,681,862				1,547,181
Clients served			14,687				14,350
Shifts			758,469				705,040
Revenue per hour		$	24.60			$	23.66
Revenue per shift		$	54.56			$	51.91
Hours per shift			2.2				2.2

(1) Total includes acquisitions.

Segment Information - Corporate

		For the Three- Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Other operating expenses		$	40.2			$	31.1
Depreciation and amortization			3.7				2.0
Total operating expenses		$	43.9			$	33.1

		For the Six- Month Periods Ended June 30,
		2019				2018
Financial Information (in millions):
Other operating expenses		$	81.5			$	61.3
Depreciation and amortization			5.1				4.5
Total operating expenses		$	86.6			$	65.8

AMEDISYS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (Amounts in thousands) (Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”):

		For the Three-Month Period Ended June 30,								For the Six-Month Period Ended June 30,
		2019				2018				2019				2018
Net income attributable to Amedisys, Inc.		$	33,742			$	33,349			$	65,046			$	60,508
Add:
Income tax expense			10,308				10,596				21,186				20,159
Interest expense, net			4,312				2,026				7,637				3,609
Depreciation and amortization			5,179				3,125				8,074				6,718
Certain items (1)			8,257				1,035				15,171				1,224
Interest component of certain items (1)			(446	)			(446	)			(887	)			(829	)
Adjusted EBITDA (2) (6)		$	61,352			$	49,685			$	116,227			$	91,389

Adjusted Net Service Revenue Reconciliation:

		For the Three-Month Period Ended June 30,								For the Six-Month Period Ended June 30,
		2019				2018				2019				2018
Net service revenue		$	492,984			$	411,603			$	960,324			$	810,865
Add:
Certain items (1)			5,515				1,687				5,993				1,687
Adjusted net service revenue (3) (6)		$	498,499			$	413,290			$	966,317			$	812,552

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:

		For the Three-Month Period Ended June 30,								For the Six-Month Period Ended June 30,
		2019				2018				2019				2018
Net income attributable to Amedisys, Inc.		$	33,742			$	33,349			$	65,046			$	60,508
Add:
Certain items (1)			6,110				766				11,226				906
Adjusted net income attributable to Amedisys, Inc. (4) (6)		$	39,852			$	34,115			$	76,272			$	61,414

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share:

		For the Three- Month Period Ended June 30,								For the Six- Month Period Ended June 30,
		2019				2018				2019				2018
Net income attributable to Amedisys, Inc. common stockholders per diluted share		$	1.02			$	0.98			$	1.98			$	1.76
Add:
Certain items (1)			0.19				0.02				0.34				0.03
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share (5) (6).		$	1.21			$	1.00			$	2.32			$	1.79

(1) The following details the certain items for the three and six-month periods ended June 30, 2019 and 2018:

Certain Items:

		For the Three-Month Period Ended June 30, 2019				For the Six-Month Period Ended June 30, 2019
		(Income) Expense				(Income) Expense
Certain Items Impacting Net Service Revenue:
Contingency accrual		$	5,523			$	6,541
Planned closures (7)			(8	)			(548	)
Certain Items Impacting Cost of Service:
Planned closures (7)			313				1,157
Certain Items Impacting Operating Expenses:
Planned closures (7)			69				157
Acquisition costs			4,494				10,252
Legal fees - non-routine			108				(24	)
Certain Items Impacting Total Other Income (Expense):
Miscellaneous, other (income) expense, net			(2,242	)			(2,364	)
Total		$	8,257			$	15,171
Net of tax		$	6,110			$	11,226
Diluted EPS		$	0.19			$	0.34
		For the Three-Month Period Ended June 30, 2018				For the Six-Month Period Ended June 30, 2018
		(Income) Expense				(Income) Expense
Certain Items Impacting Net Service Revenue:
Florida self-audit (pre-acquisition)		$	1,687			$	1,687
Certain Items Impacting Operating Expenses:
Acquisition costs			440				875
Legal fees - non-routine			543				1,105
Certain Items Impacting Total Other Income (Expense):
Miscellaneous, other (income) expense, net			(1,635	)			(2,443	)
Total		$	1,035			$	1,224
Net of tax		$	766			$	906
Diluted EPS		$	0.02			$	0.03

(2) Adjusted EBITDA is defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, excluding certain items as described in footnote 1. (3) Adjusted net service revenue is defined as net service revenue excluding certain items as described in footnote 1. (4) Adjusted net income attributable to Amedisys, Inc. is defined as net income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1. (5) Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1. (6) Adjusted EBITDA, adjusted net service revenue, adjusted net income attributable to Amedisys, Inc. and adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate these non-GAAP financial measures in the same manner. (7) Planned closures consist of in-patient units acquired from Compassionate Care Hospice whose operations ceased in April 2019.

Source: Amedisys, Inc.

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Amedisys (AMED) Tops Q2 EPS by 3cJuly 31, 2019 4:22 PM