Amedisys reports third quarter results.BATON ROUGE Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--Oct. 26, 1995--Amedisys Inc.
(NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMED AMED Allied and Alternative Medicine (database / base de donnée) AMED Association for Management Education and Development AMED Army Medical (US Army) AMED Army Medical Department ), formerly Analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. Nursing Management Corp., announced results for the third quarter and nine months ended Sept. 30, 1995. The 1995 third quarter and nine months statements have been restated to include the results of Surgical Care Centers of Texas, LC (Surgicare) acquired on June 30, 1995, which is accounted for using the pooling of interest Noun 1. pooling of interest - an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free method. Since Surgicare is a limited liability company, no income tax expense was recorded on the company's earnings through June 30, 1995. Therefore, 1994 income statements are presented proforma for a comparison basis as if they were taxed at a normal corporate tax level. Service revenues for the third quarter of 1995 totaled $9,820,000, compared with 1994 third quarter revenues of $7,119,000, an increase of 38%. Net income for the 1995 third quarter, was $260,000, or 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared to $265,000, or 10 cents per share in the 1994 third quarter. For the nine months ended Sept. 30, 1995, service revenues totaled $27,748,000, compared with service revenues of $20,793,000 reported for the nine months ended 1994, an increase of 33%. Proforma net income was $832,000, or 32 cents per share, for the nine months ended Sept. 30, 1995, compared with $925,000, or 37 cents per share in the nine months ended Sept. 30, 1994. For the nine months ended Sept. 30, the company has already surpassed its budgeted 1995 annual projection of 30 cents per share. Earnings per share increased 150 percent from proforma net income of 4 cents per share in the second quarter of 1995, to per share earnings of 10 cents in the third quarter of 1995. In announcing the company's financial results William F. Borne, chief executive officer, said, "It is our intention to expand our outpatient surgery Outpatient Surgery, also referred to as ambulatory surgery or same-day surgery, is surgery that does not require an overnight hospital stay. The term “outpatient” arises from the fact that surgery patients may go home do not need an overnight hospital operations through start-ups and acquisitions in 1996, targeted primarily at areas in which we have existing home care operations. We are pleased with the performance exhibited by the company over the last two quarters and we believe this trend will continue for the balance of the year and into 1996." Amedisys Inc. is a diversified diversified (di·verˑ·s healthcare company offering high-tech home health care, provisional Temporary; not permanent. Tentative, contingent, preliminary. A provisional civil service appointment is a temporary position that fills a vacancy until a test can be properly administered and statutory requirements can be fulfilled to make a permanent appointment. medical staffing, outpatient surgery services, physician practice management and alternative site provider management services. -0-
Amedisys Inc.
Financial Highlights
For the Third Quarter Ended
Sept. 30(1)
1995 1994(2)
Service revenue $9,820,000 $7,119,000 Net income $ 260,000 $ 265,000 Net income per share $ 0.10 $ 0.10 Weighted average number of common shares outstanding 2,586,864 2,518,135
For the Nine Months Ended
Sept. 30(1)
1995 1994(2)
Service revenue $27,748,000 $20,793,000 Net income $ 832,000 $ 925,000 Net income per share $ 0.32 $ 0.37 Weighted average number of common shares outstanding 2,568,232 2,518,135 (1) 1995 and 1994 financials for both the third quarter and nine months are restated to include the results of Surgical Care Centers of Texas, LC (Surgicare) acquired on June 30, 1995. (2) Surgical Care Centers of Texas, LC is a limited liability company. Prior to the transaction with AMEDISYS, the individual owners were responsible for all income taxes and no income tax expense was recorded on Surgicare earnings through June 30, 1995. Therefore, 1994 income statements are presented proforma for a comparison basis as if they were taxed at the normal corporate tax level. CONTACT: Amedisys Inc., Baton Rouge Barbara Carey, 800/467-2662 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Adam I. Friedman/Joseph A. Mansi, 212/682-6300, ext. 215/205 |
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