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Almost Family, Inc.
The Ruth Group
Nick Laudico/Zack Kubow
Almost Family Reports Fourth Quarter and Full Year 2009 Results
Fourth Quarter Highlights:
· Net service revenues increased 18% to $78.0 million
· Visiting Nurse (VN) segment net revenues rose 22% to $67.6 million
· Net income increased 31% to $6.8 million
· Diluted EPS increased 18% to $0.73 per share on 11% more shares outstanding
· One-time acquisition transaction costs lowered diluted EPS by $0.03
· Quarterly operating cash flow of $10.5 million strongest in the Companys history
· Approximately $90 million in cash plus credit facility available to fund acquisitions
Louisville, KY, February 24, 2010 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, 2009.
William Yarmuth, Chief Executive Officer, commented, Our fourth quarter results serve to top off another milestone year in the development of our Company. During 2009, we, along with other home health industry leaders, devoted substantial time and attention to national health care reform activities. We feel we made great strides in improving the perception of home health care in the minds of legislators and other policy makers. Against this backdrop, our management team and over 6,000 caregivers continued their uncompromising focus on providing high quality home care to our patients and quality returns for our shareholders. Our fourth quarter and full year results demonstrate our continued ability to generate organic revenue and earnings growth. With our strong balance sheet and our position as one of the nations larger providers we believe we are well positioned for continued growth both organically and as a consolidator in our industry.
The following information was filed by Almost Family Inc (AFAM) on Wednesday, February 24, 2010 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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