AMED Amedisys Inc

Amedisys, Inc. (NASDAQ:AMED) today reported its financial results for the three month period and year ended December 31, 2016.

Three Month Periods Ended December 31, 2016 and 2015

• Net service revenue increased $27.9 million to $366.3 million compared to $338.4 million in 2015.
• Net income attributable to Amedisys, Inc. of $8.9 million compared to $12.9 million in 2015.
• Net income attributable to Amedisys, Inc. per diluted share of $0.26 per diluted share compared to $0.38 in 2015.

Adjusted Quarterly Results*

• Adjusted net service revenue increased $27.8 million to $365.1 million compared to $337.3 million in 2015.
• Adjusted EBITDA of $30.5 million compared to $27.6 million in 2015.
• Adjusted net income attributable to Amedisys, Inc. of $15.0 million compared to $13.4 million in 2015.
• Adjusted net income attributable to Amedisys, Inc. per diluted share of $0.44 compared to $0.40 in 2015.

Years Ended December 31, 2016 and 2015

• Net service revenue increased $156.9 million to $1,437.4 million compared to $1,280.5 million in 2015.
• Net income attributable to Amedisys, Inc. of $37.3 million compared to $3.0 million net loss in 2015.
• Net income attributable to Amedisys, Inc. per diluted share of $1.10 compared to $0.09 net loss per diluted share in 2015.

Adjusted Year End Results*

• Adjusted net service revenue increased $157.8 million to $1,437.3 million compared to $1,279.5 million in 2015.
• Adjusted EBITDA of $109.9 million compared to $112.0 million in 2015.
• Adjusted net income attributable to Amedisys, Inc. of $52.2 million compared to $48.9 million in 2015.
• Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.55 compared to $1.48 in 2015.

* See Reconciliation of Non-GAAP Financial Measures to GAAP Measures in the table below.

Paul B. Kusserow, President and Chief Executive Officer stated, “I am extremely pleased with the results that our team delivered during 2016 and the fourth quarter, ahead of consensus estimates on EBITDA and earnings per share. Having completed our Homecare Homebase software implementation and rounding out our management team, we are already delivering a portion of the efficiencies that we promised to our stakeholders in early 2016. While the last few years have introduced quite a bit of change to the organization, our team has performed well across the board. Entering 2017, our primary goal for improvement is to return to consistent mid-single digit organic growth in home health. As a result of our efforts in the last few years, we have a solid and stable platform to build on, including a strong balance sheet that allows us to be opportunistic as we look to consolidate a fragmented industry.”

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. We disclaim any obligations to update disclosed information on trends.

Earnings Call and Webcast Information

Amedisys will host a conference call on Wednesday, March 1, 2017, at 11:00 ET to discuss its fourth quarter and year end results. To participate on the conference call, please call a few minutes 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 April 1, 2017 by dialing (877) 660-6853 (Toll-Free) or (201) 612-7415 (Toll) and entering conference ID #13654607.

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 (loss) 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 (loss) attributable to Amedisys, Inc. excluding certain items; and (4) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income (loss) 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 2,200 hospitals and 61,900 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 approximately 16,000 employees, in 420 care centers in 34 states, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 385,000 patients 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, financial 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 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 healthcare industry, our ability to integrate our personal care segment into our business efficiently, 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 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 comply with requirements stipulated in our 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.

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
(Amounts in thousands, except share data)
(Unaudited)
	December 31, 2016				December 31, 2015
ASSETS
Current assets:
Cash and cash equivalents	$	30,197			$	27,502
Patient accounts receivable, net of allowance for doubtful accounts of $17,716 and $16,526		166,056				125,010
Prepaid expenses		7,397				8,110
Other current assets		11,260				14,641
Total current assets		214,910				175,263
Property and equipment, net of accumulated depreciation of $138,650 and $141,793		36,999				42,695
Goodwill		288,957				261,663
Intangible assets, net of accumulated amortization of $27,864 and $25,386		46,755				44,047
Deferred income taxes		107,940				125,245
Other assets, net		38,468				32,802
Total assets	$	734,029			$	681,715
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	30,358			$	25,682
Payroll and employee benefits		82,480				72,546
Accrued expenses		63,290				71,965
Current portion of long-term obligations		5,220				5,000
Total current liabilities		181,348				175,193
Long-term obligations, less current portion		87,809				91,630
Other long-term obligations		3,730				4,456
Total liabilities		272,887				271,279
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; 35,253,577 and 34,786,966 shares issued; and 33,597,215 and 33,607,282 shares outstanding		35				35
Additional paid-in capital		537,472				504,290
Treasury stock at cost, 1,656,362 and 1,179,684 shares of common stock		(46,774	)			(26,966	)
Accumulated other comprehensive income		15				15
Retained earnings		(30,545	)			(67,806	)
Total Amedisys, Inc. stockholders’ equity		460,203				409,568
Noncontrolling interests		939				868
Total equity		461,142				410,436
Total liabilities and equity	$	734,029			$	681,715

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Amounts in thousands, except per share data)
(Unaudited)
	For the Three Month Period Ended December 31,								For the Year Ended December 31,
		2016				2015			2016				2015
Net service revenue	$	366,296			$	338,367			$	1,437,454			$	1,280,541
Cost of service, excluding depreciation and amortization		212,589				192,483				833,055				725,915
General and administrative expenses:
Salaries and benefits		75,902				69,628				306,981				279,425
Non-cash compensation		3,845				4,187				16,401				11,824
Other		45,097				46,452				180,048				161,186
Provision for doubtful accounts		5,855				4,683				19,519				14,053
Depreciation and amortization		5,016				4,238				19,678				20,036
Asset impairment charge		4,432				—				4,432				77,268
Operating expenses		352,736				321,671				1,380,114				1,289,707
Operating income (loss)		13,560				16,696				57,340				(9,166	)
Other income (expense):
Interest income		30				38				75				71
Interest expense		(1,613	)			(1,005	)			(5,164	)			(10,783	)
Equity in earnings from equity method investments		1,986				1,122				5,588				9,823
Miscellaneous, net		621				5,785				3,727				9,747
Total other income		1,024				5,940				4,226				8,858
Income (loss) before income taxes		14,584				22,636				61,566				(308	)
Income tax expense		(5,612	)			(9,564	)			(23,935	)			(2,004	)
Net income (loss)		8,972				13,072				37,631				(2,312	)
Net income attributable to noncontrolling interests		(55	)			(161	)			(370	)			(709	)
Net income (loss) attributable to Amedisys, Inc.	$	8,917			$	12,911			$	37,261			$	(3,021	)
Basic earnings per common share:
Net income (loss) attributable to Amedisys, Inc. common stockholders	$	0.27			$	0.39			$	1.12			$	(0.09	)
Weighted average shares outstanding		33,365				33,202				33,198				33,018
Diluted earnings per common share:
Net income (loss) attributable to Amedisys, Inc. common stockholders	$	0.26			$	0.38			$	1.10			$	(0.09	)
Weighted average shares outstanding		33,866				33,743				33,741				33,018

 

AMEDISYS, INC. AND SUBSIDIARIES
SELECT CONSOLIDATED FINANCIAL STATEMENT INFORMATION AND SEGMENT INFORMATION
(Amounts in thousands, except statistical information)
(Unaudited)
	For the Three Month Period
	Ended December 31,								For the Year Ended December 31,
		2016				2015				2016				2015
Net cash provided by operating activities	$	28,561			$	20,044			$	62,259			$	107,785
Net cash used in investing activities		(6,649	)			(47,562	)			(52,049	)			(67,421	)
Net cash used in financing activities		(630	)			(2,031	)			(7,515	)			(20,894	)
Net increase (decrease) in cash and cash equivalents		21,282				(29,549	)			2,695				19,470
Cash and cash equivalents at beginning of period		8,915				57,051				27,502				8,032
Cash and cash equivalents at end of period	$	30,197			$	27,502			$	30,197			$	27,502
Days revenue outstanding, net (1)		40.2				31.9				40.2				31.9
(1)  Our calculation of days revenue outstanding, net at December 31, 2016 and 2015 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 December 31, 2016 and 2015, respectively.

 

Segment Information - Home Health
		For the Three Month Period Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	203.2			$	195.7
Non-Medicare			65.1				66.9
Net service revenue			268.3				262.6
Cost of service			160.1				153.2
Gross margin			108.2				109.4
Other operating expenses			72.7				76.6
Operating income		$	35.5			$	32.8
Key Statistical Data:
Medicare:
Same Store (1):
Revenue			(1	%)			5	%
Admissions			2	%			3	%
Recertifications			(2	%)			3	%
Total (2):
Admissions			47,637				44,253
Recertifications			25,628				25,376
Completed episodes			71,855				68,926
Visits			1,230,434				1,216,983
Average revenue per completed episode (3)		$	2,851			$	2,855
Visits per completed episode (4)			17.2				17.7
Non-Medicare:
Same Store (1):
Revenue			(2	%)			25	%
Admissions			(3	%)			15	%
Recertifications			(1	%)			16	%
Total (2):
Admissions			24,309				25,201
Recertifications			9,673				9,798
Visits			501,215				529,948
Total (2):
Visiting Clinician Cost per Visit		$	83.46			$	79.24
Clinical Manager Cost per Visit		$	9.01			$	8.47
Total Cost per Visit		$	92.47			$	87.71
Visits			1,731,649				1,746,931
		For the Year Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	822.4			$	761.4
Non-Medicare			263.1				243.7
Net service revenue			1,085.5				1,005.1
Cost of service			643.7				584.2
Gross margin			441.8				420.9
Other operating expenses			303.2				280.6
Operating income		$	138.6			$	140.3
Key Statistical Data:
Medicare:
Same Store (1):
Revenue			2	%			3	%
Admissions			3	%			3	%
Recertifications			0	%			(1	%)
Total (2):
Admissions			194,662				178,226
Recertifications			103,193				99,762
Completed episodes			289,862				269,227
Visits			5,124,002				4,797,734
Average revenue per completed episode (3)		$	2,839			$	2,825
Visits per completed episode (4)			17.5				17.5
Non-Medicare:
Same Store (1):
Revenue			8	%			21	%
Admissions			2	%			18	%
Recertifications			8	%			14	%
Total (2):
Admissions			98,448				96,934
Recertifications			38,618				35,870
Visits			2,050,975				1,954,543
Total (2):
Visiting Clinician Cost per Visit		$	81.18			$	78.23
Clinical Manager Cost per Visit		$	8.53			$	8.29
Total Cost per Visit		$	89.71			$	86.52
Visits			7,174,977				6,752,277
(1)  Same store information represents the percent increase (decrease) in our Medicare and Non-Medicare revenue, admissions and recertifications for the period as a percent of the Medicare and Non-Medicare revenue, admissions and recertifications of the prior period.
(2)  Total includes acquisitions.
(3)  Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care.
(4)  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 Period Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	80.7			$	70.9
Non-Medicare			4.5				4.9
Net service revenue			85.2				75.8
Cost of service			43.0				39.3
Gross margin			42.2				36.5
Other operating expenses			21.4				17.8
Operating income		$	20.8			$	18.7
Key Statistical Data:
Same Store (1):
Medicare revenue			14	%			24	%
Non-Medicare revenue			(7	%)			40	%
Hospice admissions			16	%			21	%
Average daily census			13	%			24	%
Total (2):
Hospice admissions			5,769				4,966
Average daily census			6,318				5,576
Revenue per day, net		$	146.56			$	147.75
Cost of service per day		$	73.91			$	76.54
Average discharge length of stay			99				98
		For the Year Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	297.7			$	258.5
Non-Medicare			18.3				16.9
Net service revenue			316.0				275.4
Cost of service			163.1				141.7
Gross margin			152.9				133.7
Other operating expenses			77.0				66.0
Operating income		$	75.9			$	67.7
Key Statistical Data:
Same Store (1):
Medicare revenue			15	%			13	%
Non-Medicare revenue			9	%			18	%
Hospice admissions			17	%			16	%
Average daily census			16	%			12	%
Total (2):
Hospice admissions			22,526				19,205
Average daily census			5,912				5,105
Revenue per day, net		$	146.05			$	147.78
Cost of service per day		$	75.36			$	76.06
Average discharge length of stay			96				92
(1)  Same store information presented is the percent increase (decrease) in our Medicare and Non-Medicare revenue, Hospice admissions and average daily census for the period as a percent of the Medicare and Non-Medicare revenue, Hospice admissions and average daily census of the prior period.
(2)  Total includes acquisitions.
Segment Information - Personal Care
		For the Three Month Period Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	—			$	—
Non-Medicare			12.7				—
Net service revenue			12.7				—
Cost of service			9.5				—
Gross margin			3.2				—
Other operating expenses			2.9				—
Operating income		$	0.3			$	—
Key Statistical Data:
Billable hours			548,703				—
Clients served			19,569				—
		For the Year Ended December 31,
			2016				2015
Financial Information (in millions):
Medicare		$	—			$	—
Non-Medicare			35.9				—
Net service revenue			35.9				—
Cost of service			26.3				—
Gross margin			9.6				—
Other operating expenses			8.1				—
Operating income		$	1.5			$	—
Key Statistical Data:
Billable hours			1,539,093				—
Clients served			51,520				—
Segment Information - Corporate
		For the Three Month Period Ended December 31,
			2016				2015
Financial Information (in millions):
Other operating expenses		$	35.5			$	32.2
Depreciation and amortization			3.1				2.6
Total operating expenses before asset impairment charge			38.6				34.8
Asset impairment charge			4.4				—
Total operating expenses		$	43.0			$	34.8
		For the Year Ended December 31,
			2016				2015
Financial Information (in millions):
Other operating expenses		$	141.9			$	126.5
Depreciation and amortization			12.4				13.4
Total operating expenses before asset impairment charge			154.3				139.9
Asset impairment charge			4.4				77.3
Total operating expenses		$	158.7			$	217.2

 

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 December 31,								For the Year Ended December 31,
		2016				2015				2016				2015
Net income (loss) attributable to Amedisys, Inc.	$	8,917			$	12,911			$	37,261			$	(3,021	)
Add:
Income tax expense		5,612				9,564				23,935				2,004
Interest expense, net		1,583				967				5,089				10,712
Depreciation and amortization		5,016				4,238				19,678				20,036
Certain items (1)		9,999				(120	)			24,559				85,447
Interest component of certain items (1)		(625	)			—				(625	)			(3,212	)
Adjusted EBITDA (2) (6)	$	30,502			$	27,560			$	109,897			$	111,966
Adjusted Net Service Revenue Reconciliation:
	For the Three Month Period
	Ended December 31,								For the Year Ended December 31,
		2016				2015				2016				2015
Net service revenue	$	366,296			$	338,367			$	1,437,454			$	1,280,541
Add:
Certain items (1)		(1,149	)			(1,059	)			(201	)			(1,059	)
Adjusted net service revenue (3) (6)	$	365,147			$	337,308			$	1,437,253			$	1,279,482
Adjusted Net Income Attributable to Amedisys, Inc. Reconciliation:
	For the Three Month Period
	Ended December 31,								For the Year Ended December 31,
		2016				2015				2016				2015
Net income (loss) attributable to Amedisys, Inc.	$	8,917			$	12,911			$	37,261			$	(3,021	)
Add:
Certain items (1)		6,114				543				14,923				51,898
Adjusted net income attributable to Amedisys, Inc. (4) (6)	$	15,031			$	13,454			$	52,184			$	48,877
Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share:
	For the Three Month Period
	Ended December 31,								For the Year Ended December 31,
		2016				2015				2016				2015
Net income (loss) attributable to Amedisys, Inc. common stockholders per diluted share	$	0.26			$	0.38			$	1.10			$	(0.09	)
Add:
Certain items (1)		0.18				0.02				0.44				1.57
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share (5) (6)	$	0.44			$	0.40			$	1.55			$	1.48
(1) The following details the certain items for the three month periods and years ended December 31, 2016 and 2015:

Certain Items:
	For the Three Month Period				For the Year Ended
	Ended December 31, 2016				December 31, 2016
	(Income) Expense				(Income) Expense
Certain Items Impacting Net Service Revenue:
Reduction of cost report reserve	$	(1,149	)		$	(1,149	)
Third party audit reserve		—				948
Certain Items Impacting Operating Expenses:
HCHB implementation		1,345				8,371
Acquisition costs		876				3,384
Legal fees - non-routine		543				1,992
Frontier litigation		2,479				2,979
Wage and Hour litigation		(119	)			282
Asset impairment		4,432				4,432
Restructuring activity		1,976				7,645
Sales/use tax audit reserve		460				460
Disaster relief		129				467
Certain Items Impacting Total Other Income (Expense):
Sales/use tax audit reserve		625				625
Legal settlements		(280	)			(2,328	)
Miscellaneous, other (income) expense, net		(1,318	)			(3,549	)
Total	$	9,999			$	24,559
Net of tax	$	6,114			$	14,923
Diluted EPS	$	0.18			$	0.44
	For the Three Month Period				For the Year Ended
	Ended December 31, 2015				December 31, 2015
	(Income) Expense				(Income) Expense
Certain Items Impacting Net Service Revenue:
Reduction of cost report reserve	$	(1,059	)		$	(1,059	)
Certain Items Impacting Operating Expenses:
HCHB implementation		2,383				4,431
Acquisition costs		1,046				1,046
Legal fees - non-routine		459				745
OIG Self-Disclosure		4,674				4,674
Inventory and Data Security Reporting		—				2,121
Wage and Hour litigation		(2,309	)			5,691
Asset impairment		—				77,268
Restructuring activity		—				2,735
Certain Items Impacting Total Other Income (Expense):
Debt refinance costs		—				3,212
Legal settlements		(5,314	)			(7,453	)
Miscellaneous, other (income) expense, net		—				(7,964	)
Total	$	(120	)		$	85,447
Net of tax	$	543			$	51,898
Diluted EPS	$	0.02			$	1.57
(2)  Adjusted EBITDA is defined as net income (loss) 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 calculated in accordance with GAAP plus certain items as described in footnote 1.
(4)  Adjusted net income attributable to Amedisys, Inc. is defined as net income (loss) 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 (loss) 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 measure 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.

 

Contact:

Investor Contact:
Amedisys, Inc.
David Castille
Managing Director, Treasury/Finance
(225) 299-3391
david.castille@amedisys.com

Media Contact:
Amedisys, Inc.
Kendra Kimmons
Managing Director, Marketing & Communications
(225) 299-3720
kendra.kimmons@amedisys.com