Amedisys, Inc (AMED) has reported 30.93 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $8.92 million, or $0.26 a share in the quarter, compared with $12.91 million, or $0.38 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $15.03 million, or $0.44 a share compared with $13.45 million or $0.40 a share, a year ago. Revenue during the quarter grew 8.25 percent to $366.30 million from $338.37 million in the previous year period. Gross margin for the quarter contracted 115 basis points over the previous year period to 41.96 percent. Total expenses were 96.30 percent of quarterly revenues, up from 95.07 percent for the same period last year. That has resulted in a contraction of 123 basis points in operating margin to 3.70 percent.
Operating income for the quarter was $13.56 million, compared with $16.70 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $30.50 million compared with $27.56 million in the prior year period. At the same time, adjusted EBITDA margin improved 18 basis points in the quarter to 8.33 percent from 8.15 percent in the last year period.
Paul B. Kusserow, President and Chief Executive Officer stated, “I am extremely pleased with the results that our team delivered during 2016 and the fourth quarter, ahead of consensus estimates on EBITDA and earnings per share. Having completed our Homecare Homebase software implementation and rounding out our management team, we are already delivering a portion of the efficiencies that we promised to our stakeholders in early 2016. While the last few years have introduced quite a bit of change to the organization, our team has performed well across the board. Entering 2017, our primary goal for improvement is to return to consistent mid-single digit organic growth in home health. As a result of our efforts in the last few years, we have a solid and stable platform to build on, including a strong balance sheet that allows us to be opportunistic as we look to consolidate a fragmented industry.”
Operating cash flow drops significantly
Amedisys, Inc has generated cash of $62.26 million from operating activities during the year, down 42.24 percent or $45.53 million, when compared with the last year. The company has spent $52.05 million cash to meet investing activities during the year as against cash outgo of $67.42 million in the last year.
The company has spent $7.52 million cash to carry out financing activities during the year as against cash outgo of $20.89 million in the last year period.
Cash and cash equivalents stood at $30.20 million as on Dec. 31, 2016, up 9.80 percent or $2.70 million from $27.50 million on Dec. 31, 2015.
Working capital increases sharply
Amedisys, Inc has recorded an increase in the working capital over the last year. It stood at $33.56 million as at Dec. 31, 2016, up 47,845.71 percent or $33.49 million from $0.07 million on Dec. 31, 2015. Current ratio was at 1.19 as on Dec. 31, 2016, up from 1 on Dec. 31, 2015.
Debt comes down marginally
Amedisys, Inc has recorded a decline in total debt over the last one year. It stood at $93.03 million as on Dec. 31, 2016, down 3.73 percent or $3.60 million from $96.63 million on Dec. 31, 2015. Total debt was 12.67 percent of total assets as on Dec. 31, 2016, compared with 14.10 percent on Dec. 31, 2015. Debt to equity ratio was at 0.20 as on Dec. 31, 2016, down from 0.24 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 8.41 for the quarter from 16.61 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
