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Almost Family Reports Third Quarter 2008 Results
Date:11/5/2008

share, in the third quarter of 2007. The weighted average shares outstanding for purposes of calculating diluted earnings per share increased 49% between periods.

Third Quarter Segment Results

Net revenues in the Visiting Nurse segment for the third quarter of 2008 were $48.6 million, a 113% increase from $22.9 million in the third quarter of 2007. The total revenue growth of $25.7 million came from a 44% organic growth rate plus $15.7 million from acquired operations. The Patient Care acquisition completed on August 1st was in the quarter for 2 months and contributed about $7.6 million in revenue. Operating income before corporate expense in the VN segment for the third quarter 2008 was $10.0 million, a 130% increase from $4.3 million in the third quarter 2007.

Net revenues in the Personal Care (PC) segment for the third quarter of 2008 were $10.1 million, an 11% increase from $9.1 million in the third quarter of 2007. Operating income before corporate expense in the PC segment for the third quarter of 2008 was $914,000.

Nine Month Period Ended September 30, 2008

Almost Family reported net service revenues for the nine month period ended September 30, 2008 of $146.4 million, a 52% increase from $96.3 million in the same period last year. Operating income for the nine month period increased to 13% of net service revenues versus 11% for the prior year period.

Net income for the nine month period was $11.1 million, or $1.52 per diluted share, compared to $5.5 million, or $0.99 per diluted share, in the prior year period. The weighted average shares outstanding for purposes of calculating diluted earnings per share increased 30% between periods.

Nine Month Period Segment Results

Net revenues in the Visiting Nurse (VN) segment for the nine month period of 2008 were $117.3 million, a 69% increase from $69.4 million in the same period last year. The total revenue growth of $47.9 million came from a 31% organic growt
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SOURCE Almost Family, Inc.
Copyright©2008 PR Newswire.
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