This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chemed Reports First-Quarter 2012 Results

Chemed Corporation (Chemed) (NYSE:CHE), which operates VITAS Healthcare Corporation (VITAS), the nation’s largest provider of end-of-life care, and Roto-Rooter, the nation’s largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its first quarter ended March 31, 2012, versus the comparable prior-year period, as follows:

Consolidated operating results:

  • Revenue increased 6.7% to $353 million
  • GAAP Diluted EPS increased 26.2% to $1.06
  • Adjusted Diluted EPS increased 13.1% to $1.21

VITAS segment operating results:

  • Net Patient Revenue of $261 million, an increase of 10.7%
  • Average Daily Census (ADC) of 13,703, an increase of 6.1%
  • Admissions of 16,322, an increase of 3.3%
  • Net Income of $19.6 million, an increase of 8.3%
  • Adjusted EBITDA of $35.5 million, an increase of 6.8%
  • Adjusted EBITDA margin of 13.6%, a decrease of 49 basis points

Roto-Rooter segment operating results:

  • Revenue of $92.1 million, a decrease of 3.3%
  • Unit-for-unit job count of 168,778, a decrease of 4.2%
  • Net Income of $7.5 million, a decrease of 11.9%
  • Adjusted EBITDA of $14.0 million, a decrease of 9.9%
  • Adjusted EBITDA margin of 15.3%, a decrease of 111 basis points

VITAS

Net revenue for VITAS was $261 million in the first quarter of 2012, which is an increase of 10.7% over the prior-year period. This revenue growth was the result of increased ADC of 6.1%, driven by an increase in admissions of 3.3%, increased discharges of 4.1% and Medicare price increases of approximately 2.5%. Revenue growth was further enhanced by an additional day of revenue due to 2012 being a leap year, reversal of Medicare cap liabilities and favorable geographic mix shift within the patient base.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs