Exhibit 99.1
       

 

 

 

Almost Family, Inc.

Steve Guenthner

(502) 891-1000

 

 

 

 

The Ruth Group

Investor Relations

Nick Laudico/Zack Kubow

(646) 536-7030/7020

nlaudico@theruthgroup.com

zkubow@theruthgroup.com

 

 

Almost Family Reports Fourth Quarter and Full Year 2008 Results

 

Fourth Quarter and Full Year Highlights:

 

Fourth quarter net service revenues increased 84% to $66.2 million; full year net service revenues increased 61% to $212.6 million

 

Fourth quarter Visiting Nurse (VN) segment net revenues rose 108% to $55.7 million; full year VN net revenues rose 80% to $173.0 million

 

Fourth quarter net income increased 151% to $5.2 million; full year net income increased 114% to $16.3 million

 

Fourth quarter diluted EPS increased 68% to $0.62 per share on 48% more shares outstanding; full year diluted EPS increased 59% to $2.16 per share on 35% more shares outstanding

 

Louisville, KY, March 4, 2009

– Almost Family, Inc. (Nasdaq: AFAM), a leading regional provider of home health nursing services, announced today its financial results for the three months and full year ended December 31, 2008.

 

William Yarmuth, Chief Executive Officer, commented, “By all measures, the fourth quarter of 2008 completes a milestone year for Almost Family. Our success during the quarter was highlighted by 84% total revenue growth and 47% organic growth in our VN segment. We have been extremely successful during the year rolling out our Senior Advocacy Mission to all of our existing and acquired branches. The results are a stronger patient centric organization, a broader platform from which to grow and continued strong financial performance. We are particularly pleased to have substantially completed the integration of Patient Care, the largest acquisition in our history, transitioning its home office functions and systems to our Louisville headquarters. Looking into 2009, we will continue to focus on the major drivers of our revenue growth: educating referral sources on how we can provide the best care for their patients and pursuing start-ups and acquisitions that increase our densification in our existing geographic clusters.”

 

Fourth Quarter Financial Results

 

Almost Family reported fourth quarter 2008 net service revenues of $66.2 million, an 84% increase from $35.9 million in the fourth quarter of 2007. Net income for the fourth quarter of 2008 increased to 7.9% of net service revenues versus 5.8% for the fourth quarter of 2007.

 


The following information was filed by Almost Family Inc (AFAM) on Wednesday, March 4, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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