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 2010 Results

Fourth Quarter Highlights:
·  
Net service revenues increased to approximately $85 million
·  
Net income and diluted EPS were $7.0 million and $0.75 per share after the costs of complying with governmental inquiries and the impact of a Medicare rate cut
·  
Diluted EPS includes $0.04 of expenses related to governmental inquiries, excluding which diluted EPS would have been $0.79
·  
A Medicare rate cut reduced diluted EPS in the fourth quarter by $0.08.  Excluding the rate cut and the expenses related to governmental inquiries diluted EPS would have been $0.87
·  
Visiting Nurse (VN) segment net revenues grew organically 10% to $74 million
·  
Quarterly operating cash flow of $7.5 million
·  
Approximately $166 million in cash plus credit facility available to fund acquisitions

Full Year Highlights:
·  
Net service revenues increased 13% to $337 million
·  
Net income increased 25% to $30.7 million
·  
Diluted EPS increased 15% to $3.28 per share including $0.08 of expenses related to governmental inquiries, excluding which diluted EPS would have been $3.36
·  
Excluding the Medicare rate cut and governmental inquiry costs diluted EPS would have been $3.44
·  
Visiting Nurse (VN) segment net revenues rose 15% to $295 million
·  
Full Year net operating cash flow of approximately $35 million

Louisville, KY, February 28, 2011
– 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, 2010.

William Yarmuth, Chief Executive Officer, commented, “Our full year operating performance marks another milestone year in our Company’s development.  Our management team and over 6,000 caregivers continued their uncompromising focus on our Senior Advocacy Mission providing the highest quality home care to our patients throughout the communities we serve.  Our fourth quarter and full year results demonstrate our continued ability to generate quality returns for our shareholders with strong organic revenue, cash flow and earnings growth despite the challenges from health care reform and increased scrutiny in 2010.  Our strong balance sheet and operating excellence position us well for continued growth.


 
 

The following information was filed by Almost Family Inc (AFAM) on Monday, February 28, 2011 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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