Almost Family, Inc. and Subsidiaries

Results of Operations – Supplemental Quarterly Data

 

                                                                                 Results of Operations                                                               Exhibit 99.1

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2015

 

2016

 

2017

 

Consolidated

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

 

Net service revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Health

 

$ 93,172

$ 96,642

$ 94,905

$ 95,456

 

$ 99,271

$ 97,557

$ 98,109

$ 105,196

 

$ 109,422

$ 110,340

$ 108,138

$ 107,068

 

$ 151,155

 

Other Home-Based Services

 

26,860

28,294

28,838

29,118

 

29,025

29,679

31,072

38,854

 

39,884

40,012

41,975

40,675

 

45,598

 

Healthcare Innovations

 

307

256

1,798

182

 

103

130

2,051

1,167

 

4,392

5,644

10,308

5,684

 

4,559

 

 

 

120,339

125,192

125,541

124,756

 

128,399

127,366

131,232

145,217

 

153,698

155,996

160,421

153,427

 

201,312

 

Operating income before corporate expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Health

 

8,860

12,425

11,116

10,421

 

12,290

12,438

11,999

12,881

 

15,041

15,267

12,657

13,599

 

19,882

 

Other Home-Based Services

 

2,528

3,521

3,195

3,286

 

3,008

3,648

3,142

4,636

 

3,671

3,051

2,501

4,296

 

3,814

 

Healthcare Innovations

 

(255)

(427)

1,077

(408)

 

(517)

(402)

485

(783)

 

(673)

720

5,051

559

 

(343)

 

 

 

11,133

15,519

15,388

13,299

 

14,781

15,684

15,626

16,734

 

18,039

19,038

20,209

18,454

 

23,353

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

5,770

7,332

6,402

6,054

 

6,912

6,849

6,234

6,310

 

7,694

6,951

6,981

7,339

 

9,058

 

Deal, transition and other costs

 

3,115

1,243

1,655

(709)

 

406

203

(1,306)

4,835

 

2,609

2,589

2,257

4,387

 

7,231

 

Operating income

 

2,248

6,944

7,331

7,954

 

7,463

8,632

10,698

5,589

 

7,736

9,498

10,971

6,728

 

7,064

 

Interest expense, net

 

(347)

(329)

(401)

(365)

 

(447)

(457)

(559)

(823)

 

(1,332)

(1,604)

(1,399)

(1,442)

 

(1,897)

 

Net (gain) loss - noncontrolling interests

 

189

(36)

(338)

424

 

365

228

(262)

137

 

190

133

(1,012)

170

 

(760)

 

Net income before income taxes

 

2,090

6,579

6,592

8,013

 

7,381

8,403

9,877

4,903

 

6,594

8,027

8,560

5,456

 

4,407

 

Income tax expense

 

(817)

(2,618)

(2,810)

(3,266)

 

(2,987)

(3,393)

(2,078)

(2,097)

 

(2,677)

(3,250)

(3,194)

(1,864)

 

(774)

 

Net income attributable to Almost Family, Inc.

 

$ 1,273

$ 3,961

$ 3,782

$ 4,747

 

$ 4,394

$ 5,010

$ 7,799

$ 2,806

 

$ 3,917

$ 4,777

$ 5,366

$ 3,592

 

$ 3,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

Almost Family, Inc. and Subsidiaries

Results of Operations – Supplemental Quarterly Data

Home Health

(In thousands, except for statistics)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2015

 

2016

 

2017

 

 

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

 

Net service revenues

 

$ 93,172

$ 96,642

$ 94,905

$ 95,456

 

$ 99,271

$ 97,557

$ 98,109

$ 105,196

 

$ 109,422

$ 110,340

$ 108,138

$ 107,068

 

$ 151,155

 

Cost of service revenues

 

46,612

46,268

46,877

46,706

 

47,975

46,390

47,862

51,447

 

52,459

53,629

53,966

52,690

 

73,521

 

Gross margin

 

46,560

50,374

48,028

48,750

 

51,296

51,167

50,247

53,749

 

56,963

56,711

54,172

54,378

 

77,634

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

27,121

27,952

27,122

28,139

 

28,663

28,147

28,250

29,721

 

30,230

30,179

30,968

30,595

 

41,892

 

Other

 

10,579

9,997

9,790

10,190

 

10,343

10,582

9,998

11,147

 

11,692

11,265

10,547

10,184

 

15,860

 

Total general and administrative expenses

 

37,700

37,949

36,912

38,329

 

39,006

38,729

38,248

40,868

 

41,922

41,444

41,515

40,779

 

57,752

 

Operating income before corporate expenses

 

$ 8,860

$ 12,425

$ 11,116

$ 10,421

 

$ 12,290

$ 12,438

$ 11,999

$ 12,881

 

$ 15,041

$ 15,267

$ 12,657

$ 13,599

 

$ 19,882

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Margin Analysis % of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of service revenue

 

50.0%
47.9%
49.4%
48.9%

 

48.3%
47.6%
48.8%
48.9%

 

47.9%
48.6%
49.9%
49.2%

 

48.6%

 

G & A - salaries and benefits

 

29.1%
28.9%
28.6%
29.5%

 

28.9%
28.9%
28.8%
28.3%

 

27.6%
27.4%
28.6%
28.6%

 

27.7%

 

G & A - other

 

11.4%
10.3%
10.3%
10.7%

 

10.4%
10.8%
10.2%
10.6%

 

10.7%
10.2%
9.8%
9.5%

 

10.5%

 

Contribution

 

9.5%
12.9%
11.7%
10.9%

 

12.4%
12.7%
12.2%
12.2%

 

13.7%
13.8%
11.7%
12.7%

 

13.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of locations

 

171

172

158

159

 

159

161

163

164

 

163

162

168

168

 

240

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All payors:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

25,106

24,545

24,371

24,612

 

26,279

24,920

24,759

26,423

 

28,432

27,410

25,788

25,946

 

41,457

 

Census

 

19,722

20,055

20,086

19,637

 

19,846

20,374

21,014

22,470

 

23,092

23,441

23,177

22,210

 

31,333

 

Visits

 

611,044

637,361

627,517

631,145

 

642,592

638,479

645,589

694,783

 

736,159

735,138

711,998

686,982

 

969,354

 

Cost per visit

 

$ 76

$ 73

$ 75

$ 74

 

$ 75

$ 73

$ 74

$ 74

 

$ 71

$ 73

$ 76

$ 77

 

$ 76

 

G&A expense per census

 

$ 1,912

$ 1,892

$ 1,838

$ 1,952

 

$ 1,965

$ 1,901

$ 1,820

$ 1,819

 

$ 1,815

$ 1,768

$ 1,791

$ 1,836

 

$ 1,843

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Episodic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

19,413

19,187

18,886

19,053

 

20,897

19,809

19,406

20,229

 

21,612

20,932

20,751

21,106

 

31,290

 

Census

 

16,423

16,790

16,709

16,312

 

16,581

16,999

17,081

17,467

 

17,695

18,010

18,045

17,827

 

24,148

 

Episodes

 

28,285

30,594

30,229

30,115

 

31,304

30,976

30,355

31,570

 

32,540

32,775

32,260

32,428

 

45,891

 

Visits 

 

518,412

542,035

530,702

530,304

 

546,858

540,754

542,314

569,001

 

587,692

589,116

574,505

566,227

 

768,012

 

Revenue 

 

84,275

87,554

85,831

85,839

 

90,334

88,760

87,177

90,468

 

95,432

95,305

94,709

94,255

 

130,069

 

Revenue per episode

 

$ 2,979

$ 2,862

$ 2,839

$ 2,850

 

$ 2,886

$ 2,865

$ 2,872

$ 2,866

 

$ 2,933

$ 2,908

$ 2,936

$ 2,907

 

$ 2,834

 

Visits per episode

 

18.3

17.7

17.6

17.6

 

17.5

17.5

17.9

18.0

 

18.1

18.0

17.8

17.5

 

16.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

Almost Family, Inc. and Subsidiaries

Results of Operations – Supplemental Quarterly Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2015

 

2016

 

2017

 

 

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

 

Non-episodic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

5,693

5,358

5,485

5,559

 

5,382

5,111

5,353

6,194

 

6,820

6,478

5,037

4,840

 

10,167

 

Census

 

3,299

3,265

3,377

3,325

 

3,265

3,375

3,933

5,003

 

5,397

5,431

5,132

4,383

 

7,185

 

Visits

 

92,632

95,326

96,815

100,841

 

95,734

97,725

103,275

125,782

 

148,467

146,022

137,493

120,755

 

201,342

 

Revenue 

 

$ 8,897

$ 9,088

$ 9,074

$ 9,617

 

$ 8,937

$ 8,797

$ 10,932

$ 14,728

 

$ 13,990

$ 15,035

$ 13,429

$ 12,813

 

$ 21,086

 

Revenue per visit

 

$ 96

$ 95

$ 94

$ 95

 

$ 93

$ 90

$ 106

$ 117

 

$ 94

$ 103

$ 98

$ 106

 

$ 105

 

Visits per admission

 

16.3

17.8

17.7

18.1

 

17.8

19.1

19.3

20.3

 

21.8

22.5

27.3

24.9

 

19.8

 

 


 

Almost Family, Inc. and Subsidiaries

Results of Operations – Supplemental Quarterly Data

Other Home-Based Services

(In thousands, except for statistics)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2015

 

2016

 

2017

 

 

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

 

Net service revenues

 

$ 26,860

$ 28,294

$ 28,838

$ 29,118

 

$ 29,025

$ 29,679

$ 31,072

$ 38,854

 

$ 39,884

$ 40,012

$ 41,975

$ 40,675

 

$ 45,598

 

Cost of service revenues

 

18,823

19,220

19,581

19,615

 

20,306

19,934

21,130

25,696

 

27,343

27,476

29,278

27,876

 

30,503

 

Gross margin

 

8,037

9,074

9,257

9,503

 

8,719

9,745

9,942

13,158

 

12,541

12,536

12,697

12,799

 

15,095

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

3,519

3,608

3,745

3,797

 

3,913

4,044

4,368

5,269

 

5,754

6,040

6,460

6,338

 

7,376

 

Other

 

1,990

1,945

2,317

2,420

 

1,798

2,053

2,432

3,253

 

3,116

3,445

3,736

2,165

 

3,905

 

Total general and administrative expenses

 

5,509

5,553

6,062

6,217

 

5,711

6,097

6,800

8,522

 

8,870

9,485

10,196

8,503

 

11,281

 

Operating income before corporate expenses

 

$ 2,528

$ 3,521

$ 3,195

$ 3,286

 

$ 3,008

$ 3,648

$ 3,142

$ 4,636

 

$ 3,671

$ 3,051

$ 2,501

$ 4,296

 

$ 3,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Margin Analysis % of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of service revenue

 

70.1%
67.9%
67.9%
67.4%

 

70.0%
67.2%
68.0%
66.1%

 

68.6%
68.7%
69.8%
68.5%

 

66.9%

 

G & A - salaries and benefits

 

13.1%
12.8%
13.0%
13.0%

 

13.5%
13.6%
14.1%
13.6%

 

14.4%
15.1%
15.4%
15.6%

 

16.2%

 

G & A - other

 

7.4%
6.9%
8.0%
8.3%

 

6.2%
6.9%
7.8%
8.4%

 

7.8%
8.6%
8.9%
5.3%

 

8.6%

 

Contribution

 

9.4%
12.4%
11.1%
11.3%

 

10.4%
12.3%
10.1%
11.9%

 

9.2%
7.6%
6.0%
10.6%

 

8.4%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal care locations:

 

61

61

61

61

 

61

62

66

73

 

72

71

80

76

 

74

 

Hospice locations:

 

 1

 1

 1

 1

 

 1

 1

 1

 1

 

 1

 1

 1

 1

 

16

 

`

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal Care:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

1,519

1,653

1,667

1,619

 

1,427

1,651

1,725

2,076

 

2,446

2,591

2,638

1,996

 

2,341

 

Census

 

7,050

7,233

7,289

7,427

 

7,228

7,621

8,201

11,793

 

12,545

12,894

14,092

13,333

 

12,826

 

Hours of service

 

1,312,977

1,375,017

1,379,842

1,344,760

 

1,313,733

1,348,602

1,414,701

1,786,852

 

1,848,209

1,857,937

1,953,224

1,878,853

 

1,829,542

 

Hours per patient per week

 

14.3

14.6

14.6

13.9

 

14.0

13.6

13.3

11.7

 

11.3

11.1

10.7

10.8

 

10.9

 

Revenue

 

$ 26,860

$ 28,160

$ 28,627

$ 28,850

 

$ 28,761

$ 29,488

$ 30,837

$ 38,626

 

$ 39,693

$ 39,694

$ 41,688

$ 40,292

 

$ 38,554

 

Operating income

 

$ 2,639

$ 3,501

$ 3,136

$ 3,177

 

$ 2,898

$ 3,604

$ 3,067

$ 4,601

 

$ 3,737

$ 3,008

$ 2,540

$ 4,224

 

$ 2,348

 

Revenue per hour

 

$ 20.46

$ 20.48

$ 20.75

$ 21.45

 

$ 21.89

$ 21.87

$ 21.80

$ 21.62

 

$ 21.48

$ 21.36

$ 21.34

$ 21.45

 

$ 21.07

 

Cost per hour

 

$ 12.22

$ 12.27

$ 12.56

$ 12.77

 

$ 13.21

$ 13.18

$ 13.21

$ 12.75

 

$ 12.97

$ 13.08

$ 13.39

$ 13.15

 

$ 12.93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospice:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Admissions

 

 —

10

15

19

 

16

14

16

23

 

23

26

33

15

 

758

 

Census

 

 —

11

16

20

 

21

14

19

18

 

15

25

22

30

 

465

 

Length of stay

 

 —

19

30

37

 

37

26

34

33

 

30

45

40

54

 

58

 

Revenue

 

$ -

$ 134

$ 211

$ 268

 

$ 264

$ 191

$ 235

$ 228

 

$ 191

$ 318

$ 287

$ 383

 

$ 7,044

 

Operating income

 

$ (111)

$ 20

$ 59

$ 109

 

$ 110

$ 44

$ 75

$ 35

 

$ (66)

$ 43

$ (39)

$ 72

 

$ 1,466

 

Revenue per day

 

$ -

$ 140

$ 141

$ 145

 

$ 141

$ 145

$ 139

$ 140

 

$ 140

$ 142

$ 142

$ 141

 

$ 166

 


 

Almost Family, Inc. and Subsidiaries

Results of Operations – Supplemental Quarterly Data

 

Healthcare Innovations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except for statistics)

 

 

 

2014

 

2015

 

2016

 

2017

 

 

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

Q2

Q3

Q4

 

Q1

 

Net service revenues

 

$ 307

$ 256

$ 1,798

$ 182

 

$ 103

$ 130

$ 2,051

$ 1,167

 

$ 4,392

$ 5,644

$ 10,308

$ 5,684

 

$ 4,559

 

Cost of service revenues

 

91

68

64

68

 

46

19

484

553

 

2,424

2,582

2,824

2,903

 

2,242

 

Gross margin

 

216

188

1,734

114

 

57

111

1,567

614

 

1,968

3,062

7,484

2,781

 

2,317

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

239

392

309

389

 

366

335

711

1,022

 

1,839

1,446

1,477

1,153

 

1,599

 

Other

 

232

223

348

133

 

208

178

371

375

 

802

896

956

1,069

 

1,061

 

Total general and administrative expenses

 

471

615

657

522

 

574

513

1,082

1,397

 

2,641

2,342

2,433

2,222

 

2,660

 

Operating income (loss) before corporate expenses

 

$ (255)

$ (427)

$ 1,077

$ (408)

 

$ (517)

$ (402)

$ 485

$ (783)

 

$ (673)

$ 720

$ 5,051

$ 559

 

$ (343)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Margin Analysis % of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of service revenue

 

29.6%
26.6%
3.6%
37.4%

 

44.7%
14.6%
23.6%
47.4%

 

55.2%
45.7%
27.4%
51.1%

 

49.2%

 

G & A - salaries and benefits

 

77.9%
153.1%
17.2%
213.7%

 

355.3%
257.7%
34.7%
87.6%

 

41.9%
25.6%
14.3%
20.3%

 

35.1%

 

G & A - other

 

75.6%
87.1%
19.4%
73.1%

 

201.9%
136.9%
18.1%
32.1%

 

18.3%
15.9%
9.3%
18.8%

 

23.3%

 

Contribution

 

-83.1%

-166.8%

59.9%

-224.2%

 

-501.9%

-309.2%

23.6%

-67.1%

 

-15.3%

12.8%
49.0%
9.8%

 

-7.5%