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Providence Service Corporation Reports Q2 2011 Results In Line With Expectations
Date:8/8/2011

volve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to the global credit crisis, capital market conditions, the implementation of the healthcare reform law, state budget changes and legislation and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2010. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

--financial tables to follow--The Providence Service CorporationConsolidated Statements of Income(in thousands except share and per share data)(UNAUDITED)Three months endedSix months endedJune 30,June 30,2011201020112010Revenues:  Home and community based services$
81,336$
76,550$
58,580$
53,015  Foster care services8,6699,27216,92018,008  Management fees3,3353,3856,6806,680  Non-emergency transportation services141,970133,113280,936265,577235,310222,320463,116443,280Operating expenses:  Client service expense77,40573,864150,219147,508  Cost of non-emergency transportation services132,227116,562258,336230,050  General and administrative expense12,41311,78024,33722,567  Depreciation and amortization3,3293,1266,5776,253Total operating expenses225,374205,332439,469406,378Operating income 9,93616,98823,64736,902Other (income) expense:  Interest expense2,3314,0676,0628,442  Loss on extinguishment of debt--2,464-  Interest income(49)(56)(108)(127)Income before income taxes7,65412,97715,22928,587Provision for income taxes2,7995,7005,90512,203Net  income $
4,855$
7,277$
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SOURCE Providence Service Corporation
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