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Addus HomeCare Reports Third Quarter 2010 Results
Date:11/4/2010

HomeCare’s relationships with referral sources, increased competition for Addus HomeCare’s services, increased competition for joint venture and acquisition candidates, changes in the interpretation of government regulations, and other risks set forth in the Risk Factors section in Addus HomeCare’s Prospectus, filed with the Securities and Exchange Commission on October 29, 2009, in Addus HomeCare’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 29, 2010, and in Addus HomeCare’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on August 10, 2010, each of which is available at http://www.sec.gov. Addus HomeCare undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

(Unaudited tables and notes follow)ADDUS HOMECARE CORPORATION AND SUBSIDIARIESCondensed Consolidated Statements of Income(amounts and shares in thousands, except per share data)(Unaudited)For the Three Months Ended September 30,For the Nine Months Ended September 30,2010200920102009Net service revenues

$ 69,842$ 66,803$ 201,612$ 193,608Cost of service revenues

49,71047,148142,924136,588Gross profit

20,13219,65558,68857,020General and administrative expenses

16,27714,37546,97242,358Depreciation and amortization

1,0581,2342,9553,678Total operating expenses

17,33515,60949,92746,036Operating income

2,7974,0468,76110,984Interest expense, net

8551,0212,3233,189Income from operations before taxes

1,9423,0256,4387,795Income tax expense

4639351,9472,409Net income

1,4792,0904,4915,386Less: Preferred stock dividends

-(1,157)-(3,441)Net income attributable to common shareholders

$   1,479$
933$
4,491$
,945Income per common share:Basic

$
.14$
.92$
.43$
.91Diluted


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SOURCE Addus HomeCare Corporation
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