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Gentiva Reports Fourth Quarter and Fiscal 2008 Results
Date:2/18/2009

Company Raises 2009 Performance Outlook

MELVILLE, N.Y., Feb. 18 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of comprehensive home health services, today reported fourth quarter results, led by 20% revenue growth and 39% operating contribution growth from its Home Health segment, as the Company continued to execute on its strategy of delivering clinical innovation and quality care to patients.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060323/NYTH117LOGO )

Performance highlights for the quarter ended December 28, 2008 included the following Company results compared to the fourth quarter ended December 30, 2007:

  • Net revenues of $282.9 million compared to $313.4 million, which included net revenues of $76.3 million from its CareCentrix business unit in the 2007 fourth quarter. Excluding prior-year net revenues from CareCentrix, Gentiva's net revenues grew $45.8 million, or 19% in the 2008 fourth quarter. The Company sold a majority interest in CareCentrix to Water Street Healthcare Partners on September 25, 2008.

  • Net income of $12.8 million, or $0.43 per diluted share, compared to net income of $8.8 million or $0.31 per diluted share in the 2007 fourth quarter. Adjusted net income, which excludes special charges related to restructuring and integration activities, was $0.44 per diluted share in the 2008 period compared to $0.31 per diluted share in the prior-year period.

  • A 19% increase in earnings before interest, taxes, depreciation and amortization (EBITDA) to $30.0 million in the fourth quarter of 2008; EBITDA as a percentage of
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SOURCE Gentiva Health Services, Inc.
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