MELVILLE, N.Y., Feb. 14 /PRNewswire-FirstCall/ -- Gentiva Health
Services, Inc. (Nasdaq: GTIV), the nation's leading provider of
comprehensive home health and related services, today reported the
following financial results for the fourth quarter ended December 30, 2007:
-- Net revenues increased 7% to $313.4 million versus the fourth quarter
ended December 31, 2006.
-- Net income rose 60% to $8.8 million, or $0.31 per diluted share, versus
$5.5 million, or $0.20 per diluted share, for the prior year period.
Average diluted shares were 28.8 million versus 28.2 million in the
2006 fourth quarter.
-- Earnings before interest, taxes, depreciation and amortization (EBITDA)
increased 33% to $25.3 million.
-- EBITDA and net income per diluted share, excluding Healthfield-related
restructuring and integration costs in both periods, were $25.6 million
and $0.31 for the fourth quarter of 2007 as compared to $22.3 million
and $0.27 for the 2006 fourth quarter.
-- EBITDA as a percentage of net revenues, excluding Healthfield-related
restructuring and integration costs, was 8.2% in the 2007 fourth
quarter versus 7.6% in the prior year period.
"Gentiva's performance in the fourth quarter completes another solid
year of progress for the Company," said Gentiva Chairman and CEO Ron
Malone. "Our results for the quarter and the year were driven by the
ongoing expansion of Home Health, the launching of new specialty programs
and their contribution to double-digit Medicare
|SOURCE Gentiva Health Services, Inc.|
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