gentiva health services (GTIV) Snapshot

Gentiva Health Services Inc. Presents at Jefferies 2013 Global Healthcare Conference, Jun-04-2013 01:00 PM. Venue: Grand Hyatt Hotel, 109 East 42nd Street at Grand Central, New York, New York, United States. Speakers: Eric R. Slusser, Chief Financial Officer, Executive Vice President and Treasurer, Tony Strange, Chief Executive Officer, President and Director.

Gentiva Health Services Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenues of $415,591,000 compared to net revenues of $435,652,000 for the same period prior year. Loss before income taxes was $212,472,000 against income before income taxes of $7,582,000 for the same period in the last year. Net loss attributable to Gentiva shareholders was $207,177,000 or $6.73 per basic and diluted share against net income attributable to Gentiva shareholders $4,840,000 or $0.16 per basic and diluted share for the same period in the last year. Net cash used in operating activities was $20,560,000 against $34,705,000 for the same period in the last year. Purchase of fixed assets was $2,698,000 against $3,793,000 for the same period in the last year. Free cash flow was $23,258,000 against $38,498,000 for the same period in the last year. EBITDA was $185,398,000 against $36,514,000 for the same period in the last year. Adjusted EBITDA was $39,063,000 against $41,905,000 for the same period in the last year. Net revenues were negatively impacted by the 2013 home health Medicare rate reduction, the initial effects of sequestration and the sale or closure of branches in the prior year. Adjusted income attributable to Gentiva shareholders of $7.1 million or $0.23 per diluted share, compared with $7.4 million or $0.24 per diluted share in the comparable 2012 period. Cash flow was impacted by the timing of interest payments on the company's senior notes and compensation related expenses. First quarter 2013 adjusted income attributable to Gentiva shareholders was negatively impacted by the typical seasonality associated with higher federal and state unemployment taxes in the first quarter of the year and one less day associated with the leap year in 2012. The company reaffirmed earnings guidance for the full year of 2013. Net revenues are expected to be in the range of $1.69 billion to $1.73 billion, including a $21.0 million year-over-year negative impact from branches closed or sold in the prior year. Adjusted income attributable to Gentiva shareholders is expected to be in the range of $0.90 to $1.10 on a diluted per share basis, based on an estimated 31.0 million shares outstanding. Free cash flow to be about $40 million to $50 million. During the first quarter of 2013, the company recorded non-cash impairment charges of $224.3 million related to goodwill and other long-lived assets. Excluding the impact of the impairment charges, the Company's effective tax rate would have been 39.9% for the first quarter of 2013.

Gentiva Health Services Inc. Presents at Barclay's High Yield Bond and Syndicated Loan Conference, May-21-2013 08:10 AM. Venue: JW Marriott Chicago, 151 W. Adams Street, Chicago, Illinois, United States. Speakers: Eric R. Slusser, Chief Financial Officer, Executive Vice President and Treasurer.