Gentiva(R) Health Services Announces Fourth Quarter and Fiscal 2007 Results, and Raises 20... (debt 307696 34200...)

Gentiva(R) Health Services Announces Fourth Quarter and Fiscal 2007 Results, and Raises 2008 Outlook

Date:2/14/2008

debt 307,696 342,000

Deferred tax liabilities,

net 48,572 41,065

Other liabilities 22,557 21,081

Shareholders' equity 323,429 274,325

Total liabilities and

shareholders' equity $882,233 $843,882

Common shares outstanding 28,046 27,436

(A) Cash, cash equivalents and restricted cash included restricted cash of

$22.0 million at December 30, 2007 and December 31, 2006.

(B) Short-term investments at December 30, 2007 and December 31, 2006

consisted of AAA-rated auction rate securities.

of $9.4 million and $9.8 million at December 30, 2007 and December 31,

2006, respectively.

(in 000's) Fiscal Year

Condensed Statements of Cash Flows 2007 2006

OPERATING ACTIVITIES:

Net income $32,828 $20,776

Adjustments to reconcile net income to net

cash provided by operating activities:

Depreciation and amortization 20,014 15,241

Amortization of debt issuance costs 1,063 1,028

Provision for doubtful accounts 9,939 9,425

Loss on disposal of assets - 844

Reversal of tax audit reserves (450) (800)

Equity-based compensation expense 6,812 4,281

Windfall tax benefits associated with equity-

based compensation (856) (1,804)

Deferred income taxes 20,923 10,841

Changes in assets and liabilities:

Accounts receivable (36,423)
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Gentiva(R) Health Services Announces Fourth Quarter and Fiscal 2007 Results, and Raises 20...(debt 307696 34200...),Health