First Quarter Highlights:
- Net service revenues increased 77% to $69.2 million
- Visiting Nurse (VN) segment net revenues rose 97% to $58.7 million
- Net income increased 118% to $5.6 million
- Diluted EPS increased 55% to $0.68 per share on 45% more shares outstanding
LOUISVILLE, Ky., May 6 /PRNewswire-FirstCall/ -- Almost Family, Inc. (Nasdaq: AFAM), a leading regional provider of home health nursing services, announced today its financial results for the three months ended March 31, 2009.
William Yarmuth, Chief Executive Officer, commented, "We're very pleased to kick 2009 off with such a great start. The strength of our strategic plan continues to be evident in our performance. Our investment in our Senior Advocacy mission which includes improved clinical programs and a commitment to credentialing our care giving staff combined with our investment in the expansion of our marketing staff and efforts have led us to another quarter of double-digit organic admissions growth. We plan to continue our efforts to build on these great results over the balance of the year."
First Quarter Financial Results
Almost Family reported first quarter 2009 net service revenues of $69.2 million, a 77% increase from $39.0 million in the first quarter of 2008. Net income for the first quarter of 2009 increased to 8.1% of net service revenues versus 6.6% for the first quarter of 2008.
Net income for the first quarter of 2009 was $5.6 million, or $0.68 per diluted share, compared to $2.5 million, or $0.44 per diluted share, in the first quarter of 2008. The weighted average shares outstanding for purposes of calculating diluted earnings per share increased 45% between periods.
First Quarter Segment Resu
|SOURCE Almost Family, Inc.|
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