Gentiva Health Services, Inc. (Nasdaq: GTIV) announced its Q2 2010 results that showed increased revenues of 4% compared to the same period in 2009. Gentiva, which announced the acquisition of Odyssey HealthCare in May, plans to issue updated guidance after the closing of the transaction expected in Q3 2010.
Preliminary second quarter 2010 financial highlights include:
- Total net revenues of approximately $297 million, an increase of 4% compared to $284.8 million for the quarter ended June 28, 2009. Net revenues included home health episodic revenues of $229 million and hospice revenues of $21 million, increases of approximately 7% and 14%, respectively, as compared to the 2009 second quarter.
- Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) of approximately $43.2 million, an increase of about 23% compared to $35.0 million for the second quarter of 2009. Adjusted EBITDA as a percentage of total net revenues was approximately 14.5% for the 2010 second quarter, compared to 12.3% in the year-ago period.
- Adjusted income from continuing operations of approximately $22.6 million compared to $17.9 million for the second quarter of 2009, an increase of approximately 26%.
For the full earnings release, visit: Gentiva Health Services Q2 2010 Earnings