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Amedisys Reports Fourth Quarter Financial Results

Stocks in this article: AMED

Amedisys, Inc. (NASDAQ: AMED), a leading home health and hospice company, today reported its financial results for the fourth quarter and year ended December 31, 2012 and issued 2013 guidance.

Three-Month Periods Ended December 31, 2012 and 2011

• After adding back $153.4 million and $11.3 million ($113.9 million and $7.1 million, net of income tax ) or $3.75 and $0.24 per diluted share for certain items* in 2012 and 2011, the following would have been our adjusted results**:

• Net service revenue of $362.9 million compared to $370.3 million in 2011, a decrease of $7.4 million or 2.0%.

• Net income from continuing operations attributable to Amedisys, Inc., of $7.2 million compared to $14.5 million in 2011, a decrease of 50.5%.

• Net income from continuing operations attributable to Amedisys, Inc. per diluted share of $0.23 compared to $0.49 per diluted share in 2011, a decrease of 53.1%.

• Earnings before interest, taxes, depreciation and amortization attributable to continuing operations (“EBITDA”) of $23.3 million compared to $35.9 million in 2011, a decrease of 35.1%.

Twelve-Month Periods Ended December 31, 2012 and 2011

• After adding back $159.5 million and $588.7 million ($115.1 million and $441.7 million, net of income tax) or $3.83 and $15.36 per diluted share for certain items* in 2012 and 2011, the following would have been our adjusted results**:

• Net service revenue of $1,487.9 million compared to $1,463.6 million in 2011, an increase of $24.3 million or 1.7%.

• Net income from continuing operations attributable to Amedisys, Inc., of $32.8 million compared to $66.8 million in 2011, a decrease of 50.9%.

• Net income from continuing operations attributable to Amedisys, Inc. per diluted share of $1.08 compared to $2.29 per diluted share in 2011, a decrease of 52.8%.

• EBITDA of $103.2 million compared to $157.1 million in 2011, a decrease of 34.3%.

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