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Gentiva Reports First Quarter 2009 Results
Date:4/30/2009

1st Quarter ----------- Condensed Statements of Cash Flows 2009 2008 ---------------------------------- ---- ---- OPERATING ACTIVITIES: Net income $18,022 $7,723 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 5,487 5,151 Amortization of debt issuance costs 399 287 Provision for doubtful accounts 1,410 2,600 Equity-based compensation expense 1,805 1,736 Windfall tax benefits associated with equity- based compensation (547) (1,235) Loss on sale of auction rate securities 450 - Gain on sale of business, net (5,832) - Equity in net earnings of affiliate (278) - Deferred income taxes 427 4,848 Changes in assets and liabilities, net of effects from acquisitions and dispositions: Accounts receivable (5,800) (19,598) Prepaid expenses and other current assets (2,565) (2,151) Current liabilities 11,976 8,825 Other, net 42 (51) ------ ----- Net cash provided by operating activities 24,996 8,135 ------ ----- INVESTING ACTIVITIES: Purchase of fixed assets (5,671) (6,624) Proceeds from sale of business, net of cash
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SOURCE Gentiva Health Services, Inc.
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