8-K

UNITED STATES

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): 08/02/2005

Amedisys, Inc.

(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 0-24260

Delaware	11-3131700
(State or Other Jurisdiction of Incorporation or Organization)	(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)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Items to be Included in this Report

Item 8.01. Other Events

The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. The information in this Current Report shall not be incorporated by reference into any registration statement or document pursuant to the Securities Act of 1933, as amended.

On August 2, 2005, Amedisys, Inc. issued a press release attached hereto as Exhibit 99.1 announcing its financial results for the second quarter of fiscal year 2005, which ended June 30, 2005.

Item 9.01. Financial Statements and Exhibits

(a) Financial Statements of Business Acquired.

Not applicable

(b) Pro Forma Financial Information

Not applicable

(c) Exhibits

99.1 Press release dated August 2, 2005 announcing the Company’s second quarter 2005 operating results.

Signature(s)

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.
Date: August 02, 2005.	By:	/S/    GREGORY H. BROWNE
		Gregory H. Browne Chief Financial Officer

Exhibit Index

Exhibit No.	Description
EX-99.1	Press Release

EX-99.1

Exhibit 99.1

Contact:	Amedisys, Inc. Gregory H. Browne Chief Financial Officer (225) 292-2031 gbrowne@amedisys.com
	Noonan/Russo Investor Relations Brian Ritchie (212) 845-4269 brian.ritchie@eurorscg.com

AMEDISYS REPORTS SECOND QUARTER 2005

RESULTS

Company Reports Record Quarterly Earnings

Increases Guidance for 2005 and Provides Preliminary Guidance for 2006

AMEDISYS TO HOST CONFERENCE CALL

TODAY AT 10:00 AM ET

BATON ROUGE, Louisiana (August 2, 2005) – Amedisys, Inc. (NasdaqNM: “AMED”, “Amedisys”, or “the Company”), one of America’s leading home health nursing companies, today reported its financial results for the second quarter of 2005.

For the quarter ended June 30, 2005 the Company reported net income of $7.9 million, or $0.50 per diluted share, on record net service revenue of $80.1 million. Net service revenue increased by 41% when compared with the $56.9 million reported for the comparable period in the prior year. Amedisys reported net income of $5.0 million, or $0.39 per diluted share for the June quarter of 2004. The diluted weighted average number of shares outstanding approximated 15.8 million in the quarter ended June 30, 2005 and 12.8 million in the comparable period of 2004.

For the six months ended June 30, 2005 the Company reported net income of $15.0 million, or $0.95 per diluted share, on record net service revenue of $150.5 million. Net service revenue increased by 44% when compared with the $104.2 million reported for the comparable period in the prior year. Amedisys reported net income of $9.2 million, or $0.72 per diluted share, for the six months ended June 30, 2004. The diluted weighted average number of shares outstanding approximated 15.8 million in the six months ended June 30, 2005 and 12.7 million in the comparable period of 2004.

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“Our continued commitment to both organic growth and selective acquisitions has resulted in the achievement of record quarterly revenue and earnings per share, as well as a significant increase in net income,” noted William F. Borne, Chief Executive Officer of Amedisys. “Clearly, we are extremely pleased with the results, and we remain confident that Amedisys can continue to deliver strong revenue and earnings growth for our shareholders.

After taking into account the impact of the recently announced acquisitions, particularly Housecall Medical Resources (“Housecall”), and based on currently available information, we are increasing our earnings guidance for fiscal 2005 to between $1.95 and $2.01 cents per diluted share, based on expected net service revenue of approximately $370 million.”

“Further, we are providing preliminary guidance for fiscal 2006 somewhat earlier than usual. Based on currently available information, we expect that net service revenue will be approximately $495 million, and that diluted earnings per share will be between $2.47 and $2.57 cents per share. This guidance includes the impact of expensing stock options - estimated to be approximately $0.04 per share.”

“Internal growth of Medicare patient admissions was approximately 19 percent in the second quarter, and we are confident in our long-term abilities to deliver 15-20% growth in Medicare admissions,” continued Borne. “Further, we have continued to develop new locations through start ups, and we expect this strategy to continue into 2006.”

“The acquisition of Housecall, which closed on July 11, represents an important step forward for Amedisys. Housecall is a significant home health nursing and hospice company, with 66 locations, and a well deserved reputation for delivering quality care. Additionally, we are particularly pleased to have the Housecall employees as committed members of the Amedisys team. We also welcome the employees of NCARE as a result of our announcement yesterday.”

The Company will provide further information today on these results during a teleconference call that is scheduled for 10:00 a.m. ET. To access this call, please dial 1-800-322-0079 (domestic) or 1-973-409-9256 (international). A replay of the conference call will be available until August 9th, 2005, by dialing 1-877-519-4471 (domestic) or 1-973-341-3080 (international). The replay pin number is 6291015.

Amedisys, Inc., a leading provider of home health nursing services, is headquartered in Baton Rouge, Louisiana. Its common stock trades on The Nasdaq Stock Market 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 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 the Company can be found on the World Wide Web

http://www.amedisys.com

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AMEDISYS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

For the three and six months ended June 30, 2005 and 2004

(Amounts in thousands, except per share data)

	(Unaudited)
	For the three months ended June 30,						For the six months ended June 30,
	2005			2004			2005			2004
Income:
Net service revenue	$	80,061		$	56,896		$	150,498		$	104,235
Cost of service revenue (excluding depreciation and amortization)		33,044			23,613			61,505			43,093
Gross margin		47,017			33,283			88,993			61,142
General and administrative expenses:
Salaries and benefits		18,827			14,794			36,862			27,351
Other		15,469			10,406			27,898			18,803
Total general and administrative expenses		34,296			25,200			64,760			46,154
Operating income		12,721			8,083			24,233			14,988
Other income (expense):
Interest income		519			44			900			96
Interest expense		(142	)		(100	)		(287	)		(224	)
Miscellaneous		(12	)		(3	)		(27	)		(7	)
Total other income (expense), net		365			(59	)		586			(135	)
Income before income taxes		13,086			8,024			24,819			14,853
Income tax expense		5,156			3,063			9,779			5,671
Net income	$	7,930		$	4,961		$	15,040		$	9,182
Basic weighted average common shares outstanding		15,509			12,281			15,450			12,144
Basic income per common share:
Net income	$	0.51		$	0.40		$	0.97		$	0.76
Diluted weighted average common shares outstanding		15,837			12,804			15,789			12,683
Diluted income per common share:
Net income	$	0.50		$	0.39		$	0.95		$	0.72

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AMEDISYS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

As of June 30, 2005 and December 31, 2004

(Amounts in thousands, except share data)

	June 30, 2005			December 31, 2004
	(unaudited)
ASSETS:
CURRENT ASSETS:
Cash and cash equivalents	$	72,063		$	89,679
Patient accounts receivable, net of allowance for doubtful accounts of $4,943 at June 30, 2005 and $3,751 at December 31, 2004		36,994			24,478
Prepaid expenses		2,613			1,356
Inventory and other current assets		3,230			3,377
Total current assets		114,900			118,890
Property and equipment, net		19,825			10,003
Goodwill		85,120			62,537
Intangible assets, net of $1,982 and $1,177 of accumulated amortization at June 30, 2005 and December 31, 2004, respectively		7,032			4,447
Other assets, net		6,042			3,856
Total assets	$	232,919		$	199,733
LIABILITIES AND STOCKHOLDERS’ EQUITY:
CURRENT LIABILITIES:
Accounts payable	$	4,520		$	6,681
Accrued expenses:
Payroll and payroll taxes		19,924			11,914
Insurance		5,325			4,663
Income taxes		1,359			271
Legal settlements		1,950			1,833
Other		5,713			3,822
Deferred income taxes		853			1,353
Current portion of long-term debt		3,433			1,689
Current portion of obligations under capital leases		228			423
Current portion of Medicare liabilities		9,119			9,327
Total current liabilities		52,424			41,976
Long-term debt		1,928			1,380
Obligations under capital leases		162			329
Deferred income taxes		8,008			6,749
Other long-term liabilities		826			826
Total liabilities		63,348			51,260
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value, 5,000,000 shares authorized; None issued and outstanding		—			—
Common stock, $.001 par value, 30,000,000 shares authorized;
15,577,954 and 15,310,547 shares issued at June 30, 2005 and December 31, 2004, respectively		16			15
Additional paid-in capital		138,752			132,032
Unearned Compensation		(663	)		—
Treasury stock at cost, 4,167 shares held at June 30, 2005 and December 31, 2004		(25	)		(25	)
Retained earnings		31,491			16,451
Total stockholders’ equity		169,571			148,473
Total liabilities and stockholders’ equity	$	232,919		$	199,733

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