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Res Care Inc (RSCR) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Res Care Inc

CIK: 776325 Ticker: RSCR

Exhibit 99.1

ResCare Reports Fourth Quarter and Year-End 2007 Results

Confirms 2008 Guidance

LOUISVILLE, Ky.--(BUSINESS WIRE)--ResCare, Inc. (NASDAQ: RSCR) today announced results for the fourth quarter and year ended December 31, 2007.

Fourth Quarter 2007 Financial Highlights

Revenues for the fourth quarter of 2007 increased 8.9% over the prior year period to $367 million. Income from continuing operations was $12.1 million, or $0.36 per diluted common share, compared with $11.7 million, or $0.35 per diluted common share, in the same period of 2006. EBITDA for the fourth quarter of 2007 was $27.6 million versus $25.3 million in the prior year quarter. In the fourth quarter of 2007, diluted earnings per share from discontinued operations was less than $0.01, compared with a net loss of $0.08 per share in the same period of 2006.

Full Year 2007 Financial Highlights

Revenues for 2007 increased 10.1% over the prior year period to $1.43 billion. Income from continuing operations was $44.2 million, or $1.32 per diluted common share, compared with $42.0 million, or $1.27 per diluted common share, in the same period of 2006. EBITDA for 2007 was $106.9 million versus $100.6 million in 2006. In 2007, diluted loss per share from discontinued operations was $0.01, compared with a net loss of $0.16 per share in 2006.

Ralph G. Gronefeld, Jr., ResCare president and chief executive officer, said, “2007 was an exciting year for us. We improved the profitability of our Employment Training Services segment and grew Community Services segment revenues by 15%. We completed 12 acquisitions in total, adding projected annualized revenues of approximately $130 million. These acquisitions allow us to expand our services to greater populations and diversify our revenue stream.

“The acquisition of Kelly Home Care Services early in 2007 gave us the national footprint we needed to build our private-pay home care business to the elderly and drive organic growth. The acquisitions of Maatwerk Groep, BV and Biscom Resource Management Limited late in the fourth quarter gave us entry into the European Union. Maatwerk has 18 locations in the Netherlands, U.K. and Germany, and Biscom has six locations in the U.K. Both companies are private providers of government funded workforce services that include job training and job placement assistance.”


The following information was filed by Res Care Inc (RSCR) on Tuesday, March 11, 2008 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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Ticker: RSCR
CIK: 776325
Form Type: 10-K Annual Report
Accession Number: 0001104659-08-017153
Submitted to the SEC: Wed Mar 12 2008 5:15:26 PM EST
Accepted by the SEC: Wed Mar 12 2008
Period: Monday, December 31, 2007
Industry: Nursing And Personal Care Facilities

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