Amedisys (AMED) has reported 143.52 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $15.13 million, or $0.44 a share in the quarter, compared with $6.21 million, or $0.19 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $16.02 million, or $0.47 a share compared with $10.91 million or $0.33 a share, a year ago.

Revenue during the quarter grew 6.20 percent to $370.46 million from $348.82 million in the previous year period. Gross margin for the quarter contracted 38 basis points over the previous year period to 41.75 percent. Total expenses were 93.21 percent of quarterly revenues, down from 96.83 percent for the same period last year. This has led to an improvement of 362 basis points in operating margin to 6.79 percent.

Operating income for the quarter was $25.16 million, compared with $11.06 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $31.98 million compared with $23.93 million in the prior year period. At the same time, adjusted EBITDA margin improved 177 basis points in the quarter to 8.63 percent from 6.86 percent in the last year period.

aul B. Kusserow, president and chief executive officer stated, "I am pleased with our first quarter results as we continued to make progress in all four key areas of our strategy. While we did see softer volumes than anticipated in home health, continued strong performance from our hospice segment as well as disciplined cost control helped to deliver significant increases in revenue, EBITDA, earnings per share and cash flow from operations compared to the first quarter of 2016. Our primary focus as a company for the remainder of 2017 will be on organic admissions growth in home health, and we have developed detailed market-by-market plans to reach our organic growth goals in the second half of this year. In addition, our M&A pipeline is strong and we have a flexible balance sheet that will allow us to capitalize on attractive opportunities. We remain focused on continuing to deliver value to our patients, referral sources, and, ultimately, our shareholders."

The company has spent $8.18 million cash to meet investing activities during the quarter as against cash outgo of $34.15 million in the last year period. It has incurred net capital expenditure of $3.82 million on net basis during the quarter, down 40.98 percent or $2.65 million from year ago period.

The company has spent $0.78 million cash to carry out financing activities during the quarter as against cash inflow of $2.23 million in the last year period.

Cash and cash equivalents stood at $48.33 million as on Mar. 31, 2017, up 517.77 percent or $40.51 million from $7.82 million on Mar. 31, 2016.

Working capital turns positive
Working capital of Amedisys has turned positive to $59.20 million on Mar. 31, 2017 from negative $23.64 million on Mar. 31, 2016. Current ratio was at 1.32 as on Mar. 31, 2017, up from 0.88 on Mar. 31, 2016.

Days sales outstanding were almost stable at 36 days for the quarter, when compared with the last year period.

At the same time, days payable outstanding went down to 11 days for the quarter from 13 for the same period last year.