A day after announcing it will acquire Florida-based Infinity HomeCare for $63 million, Baton Rouge-based home health provider Amedisys announced this morning that its third quarter net income was flat at $8.4 million, or 25 cents per share. Net income during the same quarter last year was also at $8.4 million, or 26 cents per share.
Amedisys’ net income was left flat by roughly $3.1 million spent on fees, system upgrades and settlement payments. Not counting those expenditures, net income for the third quarter was $11.5 million. Earnings before interest, taxes, depreciation and amortization during the quarter was $26.4 million, up from $23.8 million during the quarter last year.
“We are encouraged by the company’s continued strong performance in the third quarter,” says Amedisys President and CEO Paul Kusserow in a prepared statement. “Both segments achieved significant revenue growth and we have continued to make investments that will position us well to capitalize on future opportunities supporting our long-term strategic vision.”
See the complete third quarter report.
In July, Amedisys announced plans to move 33 top level executives to a satellite office in Nashville. The move is expected to be completed by the end of the year. The company’s 110,000-square-foot corporate offices remain at 5959 South Sherwood Forest Blvd. for the time being, but executives have said they are considering options for downsizing or moving.
As of 10 a.m., shares of Amedisys were trading for $43.86, up $3.38 or 8.35%, on the Nasdaq exchange.
—Steve Sanoski
