Gentiva Reports Fourth Quarter and Fiscal 20... (net revenues improved to 10.6% in the fo...)

Gentiva Reports Fourth Quarter and Fiscal 2008 Results

Date:2/18/2009

net revenues improved to 10.6% in the fourth quarter of 2008 versus 8.1% in the prior-year period.

"We achieved our results both for the fourth quarter and all of 2008 while focusing on two key objectives: delivering clinical excellence to a more acute patient population and positioning our Company as the employer of choice for clinicians," said Gentiva CEO Tony Strange. "During the fourth quarter we continued the launch of innovative specialty care programs across our branch network and again achieved strong performance in the hiring of new clinicians. Gentiva will continue to address the needs of the nation's growing senior population, for which home healthcare is a cost-effective and patient-preferred solution for the nation's healthcare challenges."

Gentiva reported these segment highlights for the quarter:

Home Health's 20% revenue growth to $249.3 million and 39% operating contribution growth to $41.8 million led to an operating contribution margin of 16.8%, as compared with 14.5% in the fourth quarter of 2007. Home Health Medicare revenue growth of 26% was driven by a double-digit increase in episodes as the Company served a growing number of higher acuity patients, expanded specialty programs and integrated acquisitions completed in 2008.

Revenues in Gentiva's Other Related Services segment -- which includes hospice, respiratory therapy and home medical equipment, infusion therapy and consulting -- increased 11% to $34.0 million, while operating contribution decreased 3% to $3.5 million compared to the prior-year period. Fourth quarter net revenues and operating contribution for this segment were the highest of any quarter during 2008 as the Company continues to implement initiatives to improve performance.

Companywide performance highlights for the twelve months en
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Gentiva Reports Fourth Quarter and Fiscal 20...(net revenues improved to 10.6% in the fo...)