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Addus HomeCare Reports Third Quarter 2010 Results
Date:11/4/2010

rating income, including depreciation and amortization but excluding corporate expenses, was $16.9 million, compared to $15.8 million in the prior year period.  

Home Health segment net service revenues for the nine months ended September 30, 2010 were $37.5 million, a 0.6% increase compared to $37.2 million in the prior year period. Home Health segment revenues include approximately $0.5 million attributable to CarePro operations.

Home Health operating income, including depreciation and amortization but excluding corporate expenses, was $3.8 million, compared to $5.6 million in the prior year period.  

The information provided in this release includes Adjusted EBITDA, a non-GAAP financial measure, which the Company defines as net income plus depreciation and amortization, net interest expense, income tax expense and stock-based compensation expense.  The Company has provided, in the financial statement tables included in this press release, a reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure. Management believes that Adjusted EBITDA is useful to investors, management and others in evaluating the Company’s operating performance to provide investors with insight and consistency in the Company’s financial reporting and present a basis for comparison of the Company’s business operations among periods, and to facilitate comparison with the results of the Company’s peers.  

Conference Call Addus will report its 2010 third quarter and nine months financial results after the market close on Thursday, November 4, 2010.  Management will conduct a conference call to discuss its results at 5 p.m. Eastern time on November 4, 2010. The toll-free number is (866) 314-9013 (international callers should call 617-213-8053), with the passcode: 15474536. A telephonic replay of the conference call will be available through midnight on November 11, 2010, by dialing (88
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SOURCE Addus HomeCare Corporation
Copyright©2010 PR Newswire.
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