LOUISVILLE, Ky., Nov. 5 /PRNewswire-FirstCall/ --
Recent Corporate Highlights:
-- Net service revenues increased 84% to $58.7 million
-- Visiting Nurse (VN) segment net revenues rose 113% to $48.6 million
-- Net income increased 149% to $4.7 million
-- Diluted EPS increased 65% to $0.56 per diluted share on 49% more shares
-- Completed acquisition of Patient Care for $45.2 million
-- Achieved top-25 ranking on Forbes' 200 Best Small Companies List
Almost Family, Inc. (Nasdaq: AFAM), a leading regional provider of home health nursing services, announced today its financial results for the three months and nine months ended September 30, 2008.
William B. Yarmuth, Chairman and CEO, commented, "We're pleased to once again report record operating results validating our strategy and business plan. More than a double in VN segment revenue over the same quarter of last year and a 44% organic Medicare revenue growth rate provide strong evidence that we are on the right track and positioned well for the future. Our disciplined operating model, our thoughtful and deliberate approach to acquisitions and our commitment to our Senior Advocacy mission are all combining to generate an exceptional level of performance."
Third Quarter Financial Results
Almost Family reported third quarter 2008 net service revenues of $58.7 million, an 84% increase from $32 million in the third quarter of 2007. Operating income for the third quarter of 2008 increased to 13% of net service revenues versus 11% for the third quarter of 2007.
Net income for the third quarter of 2008 increased almost 150% to $4.7
million, or $0.56 per diluted share, compared to $1.9 million, or $0.34 per
|SOURCE Almost Family, Inc.|
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