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Amedisys Inc (AMED) filed Quarterly Report for the period ended 2011-09-30.
Amedisys Inc has a market cap of $384.2 million; its shares were traded at around $13.13 with a P/E ratio of 4.2 and P/S ratio of 0.2. Amedisys Inc had an annual average earning growth of 36.6% over the past 10 years.
This is the annual revenues and earnings per share of AMED over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of AMED.
Highlight of Business Operations:
We are a leading provider of high-quality, low-cost home health services to the chronic, co-morbid, aging American population with approximately 85% of our revenue was derived from Medicare for the three-month periods ended September 30, 2011 and 2010, respectively and approximately 85% and 86% of our revenue was derived from Medicare for the nine-month periods ended September 30, 2011 and 2010, respectively. During the three-month period ended September 30, 2011, we had $374.9 million in net service revenue, net loss per diluted share of $14.73 and cash flow from operations of $27.8 million. During the third quarter of 2011, we recorded a $574.1 million estimated impairment charge of goodwill and other intangibles as a result of the decline in our market capitalization and forecasts during the quarter — see “Goodwill Impairment” below for additional information. For the nine-month period ended September 30, 2011, we had $1.1 billion in net service revenue, net loss per diluted share of $13.53 and cash flow from operations of $104.3 million.When we refer to “same store business,” we mean home health and hospice agencies that we have operated for at least the last twelve months; when we refer to “acquisitions,” we mean home health and hospice agencies that we acquired within the last twelve months; and when we refer to “start-ups,” we mean any home health or hospice agency opened by us in the last twelve months. Once an agency has been in operation for a twelve month period, the results for that particular agency are included as part of our same store business from that date forward. When we refer to episodic-based revenue, admissions, recertifications or completed episodes, we
Our home health revenue is driven by the volume of admissions and recertifications and the revenue per episode on episodes completed and in progress during the quarter. We experienced significant declines in all of these revenue metrics which contributed to a $54.4 million decline in our home health net service revenue excluding the $3.7 million for the settlement of our Georgia indigent care liability we recognized during the three month period ended September 30, 2010.
Cash provided by operating activities decreased $68.3 million during 2011 compared to 2010, primarily due to the reduction in reimbursement and a decline in operating performance as well as an increase in our days revenue outstanding. The recognition of the estimated goodwill and intangible asset impairment charge of $574.1 million, which resulted in the net loss for our nine-month period ended September 30, 2011, is non-cash in nature and therefore had no impact on our cash flow from operations.
Our patient accounts receivable, net increased $9.7 million from December 31, 2010 to September 30, 2011 primarily due to the acquisition of Beacon which resulted in an increase of $13.4 million. Our cash collection as a percentage of revenue was 104.0% for the three-month periods ended September 30, 2011 and 99.3% for the three-month periods ended December 31, 2010. Our days revenue outstanding, net has increased by 3.1 days since December 31, 2010 primarily due to billing delays caused by the new face-to-face and functional assessment requirements.
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