Amedisys Inc. (AMED:NASDAQ)

Amedisys Inc. - Conference Presentation Calls

Amedisys Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income attributable to company was $35,940,000 or $1.29 per share on revenue of $388,257,000 against net income attributable to company of $23,493,000 or $0.87 per share on revenue of $321,561,000 in the same period of last year. Operating income was $60,734,000 against $43,638,000 in the same period of last year. Income before income taxes was $59,059,000 against $38,619,000 in the same period of last year. Net cash provided by operating activities was $88,624,000 against $29,290,000 in the same period of last year. EBITDA was $69,108,000 against $49,355,000 in the same period of last year. For the nine months ended September 30, 2009, the company reported net income attributable to company was $98,044,000 or $3.55 per share on revenue of $1,107,987,000 against net income attributable to company of $60,341,000 or $2.25 per share on revenue of $847,319,000 in the same period of last year. Operating income was $167,192,000 against $110,229,000 in the same period of last year. Income before income taxes was $160,958,000 against $99,551,000 in the same period of last year. Net cash provided by operating activities was $218,922,000 against $86,834,000 in the same period of last year. EBITDA was $190,433,000 against $125,991,000 in the same period of last year. The company provided earnings guidance for the year 2009. Net service revenue is anticipated to be in the range of $1.475 billion to $1.500 billion, excluding the effects of future acquisitions, if any are made. Diluted earnings per share is expected to be in the range of $4.75 to $4.90 based on an estimated 27.8 million shares outstanding, also excluding the effects of future acquisitions, if any are made.

Amedisys Inc. said that the company continues to evaluate acquisition opportunities. William F. Borne, Chief Executive Officer and Chairman of Amedisys said, “Moving to acquisitions, we acquired 10 hospice agencies located in South Carolina and Mississippi in July. This was our largest hospice only acquisition to date. We also signed a purchase agreement to acquire the home health operations of Hackensack University Medical Center and expect to close by year-end. We have a healthy pipeline of both home health and hospice acquisition candidates and we continue to analyze potential opportunities as they become available. Due to potential reimbursement changes being discussed in Washington, we are being more selective in our acquisition targets and more conservative in our pricing.”