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Amedisys Reports First Quarter Financial Results

BATON ROUGE, La., May 03, 2016 (GLOBE NEWSWIRE via COMTEX) --

Amedisys, Inc. AMED, -1.65% a leading home health and hospice company, today reported its financial results for the three-month period ended March 31, 2016.

  • Net service revenue increased $47.2 million or 15.6% to $348.8 million compared to $301.6 million in 2015.
  • Net income attributable to Amedisys, Inc. increased $41.2 million or 117.7% to $6.2 million compared to $35.0 million net loss attributable to Amedisys, Inc. in 2015.
  • Net income attributable to Amedisys, Inc. per diluted share increased $1.26 or 117.8% to $0.19 compared to $1.07 net loss attributable to Amedisys, Inc. per diluted share in 2015.

Adjusted Results*

  • Adjusted net income attributable to Amedisys, Inc. of $10.9 million compared to adjusted net income attributable to Amedisys, Inc. of $9.8 million in 2015.
  • Adjusted net income attributable to Amedisys, Inc. per diluted share of $0.33 compared to adjusted net income attributable to Amedisys, Inc. per diluted share of $0.30 in 2015.
  • Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") of $23.9 million compared to $26.4 million in 2015.

Paul B. Kusserow, President and Chief Executive Officer stated, "We are very pleased with our first quarter results and the progress we have made executing on our strategy. We generated strong organic growth across home health and hospice and closed on our first acquisition of a personal care company - Associated Home Care. We also remain focused on clinical distinction, becoming an employer of choice and operational excellence, and are confident in our ability to deliver on the efficiencies outlined in our plan and promised to our investors."

We urge caution in considering the current trends disclosed in this press release. The home health and hospice industry is highly competitive and subject to intensive regulations, and trends are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission ("SEC") including our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, and subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SEC's internet website, http://www.sec.gov, and our internet website, http://www.amedisys.com. We disclaim any obligations to update disclosed information on trends.

* See table "Reconciliation of Non-GAAP Financial Measures to GAAP Financial Statements" for explanation of certain items and the reconciliations of non-GAAP financial measures to GAAP measures.

Earnings Call and Webcast Information

To participate on the conference call, please call a few minutes before 11:00 a.m. ET to either (877) 524-8416 (Toll-Free) or (412) 902-1028 (Toll). A replay of the conference call will be available through June 1, 2016 by dialing (877) 660-6853 (Toll-Free) or (201) 612-7415 (Toll) and entering conference ID #13635831.

A live webcast of the call will be accessible through our website on our Investor Relations section at the following web address: http://investors.amedisys.com.

Amedisys, Inc. (the "Company") is headquartered in Baton Rouge, Louisiana and our common stock trades on the NASDAQ Global Select Market under the symbol "AMED".

Additional information

Our company website address is www.amedisys.com. We use our website as a channel of distribution for important company information. Important information, including press releases, analyst presentations and financial information regarding our company, is routinely posted on and accessible on the Investor Relations subpage of our website, which is accessible by clicking on the tab labeled "Investors" on our website home page. We also use our website to expedite public access to time-critical information regarding our company in advance of or in lieu of distributing a press release or a filing with the SEC disclosing the same information. Therefore, investors should look to the Investor Relations subpage of our website for important and time-critical information. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.

Forward-Looking Statements

When included in this press release, words like "believes," "belief," "expects," "plans," "anticipates," "intends," "projects," "estimates," "may," "might," "would," "should" and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to the following: changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, changes in or our failure to comply with existing Federal and State laws or regulations or the inability to comply with new government regulations on a timely basis, competition in the home health industry, changes in the case mix of patients and payment methodologies, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to attract and retain qualified personnel, changes in payments and covered services due to the economic downturn and deficit spending by Federal and State governments, future cost containment initiatives undertaken by third-party payors, our access to financing due to the volatility and disruption of the capital and credit markets, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, our ability to integrate and manage our information systems, our ability to comply with requirements stipulated in our corporate integrity agreement and changes in law or developments with...


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