Amedisys Previews Second Quarter 2014 Results
BATON ROUGE, La., June 27, 2014 (GLOBE NEWSWIRE) -- Amedisys, Inc.
(Nasdaq:AMED), one of America's leading home health and hospice care
companies, today announced its expectations for certain financial results for
the second quarter ending June 30, 2014. Amedisys anticipates second quarter
revenue in the range of $300-$305 million, and adjusted earnings per share
("EPS") from continuing operations of between $0.15 and $0.20. These results
are subject to completion of the quarter, as well as the Company's quarterly
financial and accounting procedures, and the Company's actual results could
vary from these estimates.
The Company previously announced plans to close or consolidate care centers
and right-size general and administrative expenses. As a result of these
initiatives, the Company has been able to improve gross margins and reduce
direct and general and administrative costs, favorably impacting second
While these results represent a significant improvement from the first
quarter, we remain cautious on our full-year outlook due to the seasonality of
the business and the early-stage nature of some of the performance initiatives
undertaken thus far in 2014.
Amedisys will discuss these results in more detail on its second quarter
earnings conference call scheduled for Wednesday, July 30, 2014 at 10:00 a.m.
Eastern Time (9:00 a.m. Central Time).
Amedisys, Inc. (Nasdaq:AMED) is a leading healthcare at home company
delivering personalized home health and hospice care to more than 360,000
patients each year. More than 2,200 hospitals and 61,900 physicians nationwide
have chosen Amedisys as a partner in post-acute care. Amedisys is focused on
delivering the care that is best for our patients, whether that is home-based
recovery and rehabilitation after an operation or injury, care focused on
empowering them to manage a chronic disease, palliative care for those with a
terminal illness, or hospice care at the end of life. Amedisys also has the
industry's first-ever nationwide Care Transitions program, designed to reduce
unnecessary hospital readmissions through patient and caregiver health
coaching and care coordination, which starts in the hospital and continues
throughout completion of the patient's home health plan of care. For more
information about the Company, please visit: http://www.amedisys.com.
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, our
ability to fund required settlement payments in the manner agreed upon in our
settlement agreement to resolve both the U.S. Department of Justice
investigation and the Stark Law Self-Referral matter, our ability to comply
with requirements stipulated in our corporate integrity agreement and change
in law or developments with respect to any litigation or investigations
relating to the Company, including the SEC investigation, the OIG
Self-Disclosure issues and various other matters, many of which are beyond our
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: adjusted earnings per share from continuing
operations, defined as net income (loss) from continuing operations
attributable to Amedisys, Inc. common stockholders per diluted share plus the
earnings per share effect of certain items. Management believes that adjusted
earnings per share from continuing operations is a useful gauge of our
performance and is a common measure used in our industry to assess relative
financial performance among companies.
CONTACT: Amedisys, Inc.
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