0000950134-01-507908.txt : 20011112 0000950134-01-507908.hdr.sgml : 20011112 ACCESSION NUMBER: 0000950134-01-507908 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011105 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMEDISYS INC CENTRAL INDEX KEY: 0000896262 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HOME HEALTH CARE SERVICES [8082] IRS NUMBER: 113131700 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24260 FILM NUMBER: 1775013 BUSINESS ADDRESS: STREET 1: 11100 MEAD ROAD STE 300 CITY: BATON ROUGE STATE: LA ZIP: 70816 BUSINESS PHONE: 2252922031 MAIL ADDRESS: STREET 1: 11100 MEAD ROAD STE 300 CITY: BATON ROUGE STATE: LA ZIP: 70816 FORMER COMPANY: FORMER CONFORMED NAME: ANALYTICAL NURSING MANAGEMENT CORP DATE OF NAME CHANGE: 19940819 FORMER COMPANY: FORMER CONFORMED NAME: M&N CAPITAL CORP DATE OF NAME CHANGE: 19930125 8-K 1 d91835e8-k.txt FORM 8-K U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K -------------------------------------------------------------------------------- CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): November 5, 2001 AMEDISYS, INC. -------------- (Exact Name of Registrant as Specified in Charter) Delaware -------- (State or Other Jurisdiction of Incorporation or Organization) 0-24260 11-3131700 -------- ---------- (Commission File Number) (I.R.S. Employer Identification No.) 11100 Mead Road, Suite 300, Baton Rouge, LA 70816 ------------------------------------------------- (Address of principal executive offices including zip code) (225) 292-2031 -------------- (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS On November 5, 2001, Amedisys, Inc., "the Company", issued a press release attached hereto as Exhibit 99.1 to announce third quarter operating results and that it will host a conference call at 11:00 a.m. EST that same day. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial Statements of Business Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Exhibit No.
Page 99.1 (i)Press Release dated November 5, 2001 announcing third quarter operating results and that the Company will host a conference call at 11:00 a.m. EST that same day................................................................A-1
(i) Filed herewith. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMEDISYS, INC. By: /s/ John M. Joffrion ---------------------------------------- John M. Joffrion Senior Vice President of Finance Principal Accounting and Financial Officer DATE: November 5, 2001 EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION PAGE ------ ----------- ---- 99.1 (i)Press Release dated November 5, 2001 announcing third quarter operating results and that the Company will host a conference call at 11:00 a.m. EST that same day........................................................................A-1
(i) Filed herewith. EX-99.1 3 d91835ex99-1.txt PRESS RELEASE DATED NOVEMBER 5, 2001 For Immediate Release Exhibit 99.1 AMEDISYS ANNOUNCES THIRD QUARTER OPERATING RESULTS NINE-MONTH EARNINGS OF $0.35 PER DILUTED SHARE FROM CONTINUING OPERATIONS COMPARE FAVORABLY WITH PRIOR-YEAR NET LOSS OF ($1.05) PER SHARE FROM CONTINUING OPERATIONS BATON ROUGE, Louisiana (November 5, 2001) - Amedisys, Inc. (OTC BB: "AMED"), one of America's leading home health nursing companies, today reported its financial results for the third quarter and first nine months of 2001. The Company reported net income from continuing operations of $2.0 million, or $0.25 per diluted share, for the three months ended September 30, 2001, on revenues of approximately $29.7 million. These results compared with revenues of approximately $22.1 million and a net loss from continuing operations of ($1.5 million), or ($0.29) per share, in the third quarter of 2000. For the nine months ended September 30, 2001, net income from continuing operations totaled $2.7 million, or $0.35 per diluted share, on revenues of approximately $79.0 million. In the corresponding period of the previous year, the Company reported a net loss from continuing operations of ($4.2 million), or ($1.05) per share, on revenues approximating $68.8 million. "We are very pleased to report third quarter earnings that met management's expectations and confirm the continuing earnings turnaround at Amedisys," stated William F. Borne, Chairman and Chief Executive Officer of the Company. "On a year-to-date basis, we have experienced a 40% increase in patient admissions, as compared to the prior year, resulting from the success of our marketing efforts to expand our physician referral base and from contributions by home nursing agencies acquired during the past year. Management continues to implement actions that can improve the efficiency of our operations, while delivering the highest levels of home nursing service to our patient population." "A price increase of approximately 5.2% became effective under Medicare's Prospective Payment System on October 1, 2001," continued Borne. "This price increase, along with improving cost efficiencies throughout the Amedisys organization, should allow the Company's earnings to improve further in the fourth quarter, which ends December 31, 2001." THE COMPANY WILL PROVIDE FURTHER INFORMATION TODAY ON THESE RESULTS DURING A TELECONFERENCE CALL THAT IS SCHEDULED FOR 11:00 A.M. EST. TO ACCESS THIS CALL, PLEASE DIAL 800-388-8975. A REPLAY OF THE CONFERENCE CALL WILL BE AVAILABLE UNTIL NOVEMBER 12, 2001, BY DIALING 800-428-6051. THE ACCESS CODE IS #215516 FOR THE REPLAY. Amedisys, Inc., a leading multi-regional provider of home health nursing services, is headquartered in Baton Rouge, Louisiana. Its common stock trades on the OTC Bulletin Board under the symbol "AMED". This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in government reimbursement procedures, dependence upon third-party vendors, and other risks discussed in the Company's periodic filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Additional information on this Company can be found on the World Wide Web http://www.amedisys.com For further information, please contact: John Joffrion, Senior Vice President at (225) 292-2031 or RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or via e-mail at info@rjfalkner.com (Financial Highlights Follow) AMEDISYS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (DOLLAR AMOUNTS IN 000'S, EXCEPT PER SHARE AMOUNTS) SELECTED FINANCIAL DATA
Three Months Ended Nine Months Ended September 30, September 30, 2001 2000 2001 2000 Service revenue $ 29,672 $ 22,091 $ 79,042 $ 68,779 Cost of service revenue 13,053 10,366 34,977 32,580 ---------- ---------- ---------- ---------- Gross margin 16,619 11,725 44,065 36,199 Total general and administrative expenses 14,057 12,584 39,572 38,695 ---------- ---------- ---------- ---------- Operating income (loss) 2,562 (859) 4,493 (2,496) Total other expense, net (584) (610) (1,744) (1,707) ---------- ---------- ---------- ---------- Net income (loss) before discontinued operations 1,978 (1,469) 2,749 (4,203) (Loss) from discontinued operations, Net of income taxes (456) (407) (585) (2,806) Gain on sale of discontinued operations, Net of income taxes 1,056 1,114 1,056 3,623 ---------- ---------- ---------- ---------- Total discontinued operations 600 707 471 817 Net income (loss) $ 2,578 $ (762) $ 3,220 $ (3,386) ========== ========== ========== ========== Basic weighted average common shares outstanding: 5,873 4,955 5,716 4,006 Basic income (loss) per common share: Net income (loss) before discontinued operations $ 0.34 $ (0.29) $ 0.47 $ (1.05) (Loss) from discontinued operations, net of income taxes (0.08) (0.08) (0.10) (0.69) Gain on sale of discontinued operations net of income taxes 0.18 0.22 0.19 0.90 ---------- ---------- ---------- ---------- Net income (loss) per basic share $ 0.44 $ (0.15) $ 0.56 $ (0.84) ========== ========== ========== ========== Diluted weighted average common shares outstanding: 7,934 4,955 7,812 4,006 Diluted income (loss) per common share: Net income (loss) before discontinued operations $ 0.25 $ (0.29) $ 0.35 $ (1.05) (Loss) from discontinued operations, net of income taxes (0.06) (0.08) (0.07) (0.69) Gain on sale of discontinued operations, net of income taxes 0.13 0.22 0.14 0.90 ---------- ---------- ---------- ---------- Net income (loss) per diluted share $ 0.32 $ (0.15) $ 0.42 $ (0.84) ========== ========== ========== ==========