Home Health Business Quarterly: Year-end results
Home Health Business Quarterly
Year-end results
Losses, gains at Almost Family
Almost Family Inc. (AFAM) of Louisville, KY, has announced earnings for the three- and 12-month periods ending March 31, 2001. Consolidated net income was $751,486 or 24 cents per share for the quarter and $2.2 million or 70 cents per share for the year. Consolidated net loss for the previous periods were $262,871 or 8 cents per share and $4.7 million or $1.52 per share, respectively. For the year, the company reported net income from continuing operations of $1.6 million or 51 cents per share on revenues of $49.7 million, compared with $175,322 or 6 cents per share on revenues of $44.7 million. As for the quarter, the higher earnings — up more than 800% for the year — resulted primarily from higher sales volumes and improved reimbursement rates.
Almost Family provides adult day health care services for seniors and special needs adults who wish to avoid nursing home placement. The company changed its name from Caretenders HealthCorp. in January 2000.
Medical Action shows increase
For the fiscal year ended March 31, 2001, Medical Action Industries Inc. (MDCI) of Hauppauge, NY, a supplier of medical and surgical disposable products, reported net sales of $75.4 million, compared with $70.9 million for the previous year. Net income rose 36% to $4.4 million or 48 cents per basic share (46 cents per diluted share), compared with $3.2 million or 36 cents per basic share (35 cents per diluted share). Earnings before interest, taxes, depreciation, and amortization was $9.6 million.
Net sales for the fiscal 2001 fourth quarter increased to $19 million from the $16.7 million in net sales reported for the three months ended March 31, 2000. Net income for the fourth quarter increased to $1.2 million or 14 cents per basic share (13 cents per diluted share) from the $882,000 or 10 cents per basic (9 cents per diluted share) reported in 2000. This represents the 11th consecutive quarter of record net income.
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