Baton Rouge-based home health and hospice firm Amedisys Inc. reports fourth-quarter net income of $9.1 million in the final three months of last year, after reporting a net loss of $8.2 million for the same period a year earlier.
In its quarterly and year-end report released this morning, Amedisys says it had net income of 28 cents per share. Earnings, adjusted for non-recurring gains, were 27 cents per share. The Associated Press reports the results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 27 cents per share.
However, revenue came up just short of Wall Street forecasts. Amedisys posted revenue of $300.5 million in the fourth quarter. Six analysts surveyed by Zacks expected $300.9 million.
For the year, the company reported net income of $12.8 million, or 39 cents per share, compared to a net income loss of $96.2 million, or $3.08 per share, for 2013—when the company’s figures were affected by a $150 million settlement with the federal government regarding allegations it submitted false home health care billings to the Medicare program between 2008 and 2010. The company admitted no wrongdoing under terms of the settlement.
Amedisys reported 2014 revenue of $1.2 billion, down from $1.25 billion in 2013. Amedisys shares have risen 2% since the beginning of the year. The stock has climbed 77% in the last 12 months. As of 10 a.m., shares of Amedisys were down $0.92, or roughly 3%, to $29.04.
