Amedisys announces its financial results for the three and nine-month periods ended September 30, 2009

Amedisys, Inc.Oct 27 2009

Amedisys, Inc. (NASDAQ: AMED), one of America’s leading home health nursing companies, today reported its financial results for the three and nine-month periods ended September 30, 2009. We posted record financial performance with net service revenue and net income attributable to Amedisys, Inc., increasing 20.7% and 53.0%, respectively, over the three-month period ended September 30, 2008.

Three-Month Periods Ended September 30, 2009 and 2008

• Net service revenue increased $66.7 million or 20.7% to $388.3 million compared to $321.6 million in 2008, with $53.2 million of the increase related to growth through base/start-up agencies.

• Net income attributable to Amedisys, Inc. increased $12.4 million or 53.0% to $35.9 million compared to $23.5 million in 2008

• Diluted earnings per share increased 48.3% to $1.29 compared to $0.87 per diluted share in 2008. The weighted average number of diluted shares outstanding increased to approximately 27.9 million compared to 27.0 million in 2008.

• Earnings before interest, taxes, depreciation and amortization (“EBITDA”) increased 40.0% to $69.1 million compared to $49.4 million in 2008.

Nine-Month Periods Ended September 30, 2009 and 2008

• Net service revenue increased $260.7 million or 30.8% to $1.1 billion compared to $847.3 million in 2008, with $153.3 million of the increase related to growth through base/start-up agencies.

• Net income attributable to Amedisys, Inc. increased $37.7 million or 62.5% to $98.0 million compared to $60.3 million in 2008

• Diluted earnings per share increased 57.8% to $3.55 compared to $2.25 per diluted share in 2008. The weighted average number of diluted shares outstanding increased to approximately 27.6 million compared to 26.8 million in 2008.

• EBITDA increased 51.1% to $190.4 million compared to $126.0 million in 2008.

“We are pleased to report another strong quarter,” stated William F. Borne, Chief Executive Officer. “These results are a demonstration of the outstanding efforts everyone in the organization is contributing to the continued clinical excellence and financial success of the Company. The passion for serving our patients, the culture of hard work and the commitment to our core values are at the forefront of our success.”

2009 Guidance

• Net service revenue is anticipated to be in the range of $1.475 billion to $1.500 billion, excluding the effects of future acquisitions, if any are made.

• Diluted earnings per share is expected to be in the range of $4.75 to $4.90 based on an estimated 27.8 million shares outstanding, also excluding the effects of future acquisitions, if any are made.

We urge caution in considering the current trends and 2009 guidance disclosed in this press release. The home health and hospice industry is highly competitive and subject to intensive regulations, and trends and guidance are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission (“SEC”) including our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SEC’s internet website, http://www.sec.gov, and our internet website, http://www.amedisys.com. We disclaim any obligations to update disclosed information on trends or guidance.