Almost Family, Inc. Reports Q1 Results

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Almost Family, Inc. Reports Q1 Results
Income From Continuing Operations Increased to $0.09 From $0.02 in Prior Year,
                        Excluding Non-Recurring Items

    LOUISVILLE, Ky., July 31 /PRNewswire/ -- Almost Family, Inc.
(Nasdaq: AFAM) announced earnings for the quarter ended June 30, 2000.
    For the three months ended June 30, 2000, the Company reported net income
from continuing operations of $290,714 or $0.09 per share on revenues of
$11,776,440.  In the same quarter last year, the Company reported net income
from continuing operations of $56,507 or $0.02 per share, excluding non-
recurring items, on revenues of $10,335,008.  The Company attributed the
higher earnings for this year's first quarter to higher sales volumes and
increased occupancy rates in its adult day care facilities.
    On July 1, 2000 the Company acquired a new adult day care center, located
in Seymour, CT.  The terms of the transaction were not disclosed.  The Company
now operates four adult day care centers in Connecticut and 26 system-wide.
    "We continue to be pleased with our operations' growth in revenue and
earnings.  As in previous quarters, our results are being driven primarily by
increased occupancy rates and volume growth," said William B. Yarmuth, Almost
Family's Chairman and CEO.  "The Company's in-center system capacity increased
8.5% year to year.  At the same time our occupancy rate increased to 78% this
year from 75% last year."
    Results of operations for the three months ended June 30, 2000 and 1999
are set forth in the table below.

                           Three Months Ended June 30,           Change
                              2000           1999            Amount   Percent

    Continuing Operations
     Net Revenues        $ 11,776,440    $ 10,335,008    $ 1,441,432   13.9%
     Pre-tax Center
      Contribution          2,110,187       1,717,096        393,091   22.9%

    Net Income (loss) from
     Continuing
     Operations               290,714           3,320        287,394
    Discontinued Operations
     Results of operations         --          56,000        (56,000)
     Net income (loss)   $    290,714    $     59,320    $   231,394  390.1%

    Earnings (loss) per share
     Continuing
      operations         $       0.09    $       0.00    $      0.09
     Discontinued operations
      Results of operations        --            0.02          (0.02)
     Total Earnings (loss)
      per share          $       0.09    $       0.02    $      0.07  390.1%

    Continuing operations excluding
     non-recurring items:
     Net income (loss)   $    290,714    $     56,507    $   234,207  414.5%
     Earnings (loss)
      per share                  0.09            0.02           0.07  414.5%

    Total Days of Care        179,208         149,509         29,699   19.9%

    In-Center Occupancy
     Percentage                 77.47%          74.90%           2.6%

    Almost Family, Inc. is an adult day health care services company focused
on providing alternatives for seniors and other special needs adults who wish
to avoid nursing home placement.  The Company has locations in Kentucky,
Maryland, Alabama, Massachusetts, Connecticut, Indiana, Ohio, and Florida.
    As previously announced, the Company changed its name to Almost Family
(Nasdaq: AFAM) from Caretenders HealthCorp on January 31, 2000.


    Contact: William Yarmuth or Steve Guenthner (502) 899-5355.

    All statements, other than statements of historical facts, included in
this news release, including the objectives and expectations of management for
future operating results, are forward-looking statements.  These forward-
looking statements are based on the Company's current expectations.  Although
the company believes that the expectations expressed or implied in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
    Because forward-looking statements involve risks and uncertainties, the
company's actual results could differ materially.  The potential risks and
uncertainties which could cause actual results to differ materially could
include the impact of further changes in healthcare reimbursement systems,
including the ultimate implementation of a Medicare prospective payment
system; government regulation; health care reform; pricing pressures from
third-party payers; and changes in laws and interpretations of laws relating
to the healthcare industry.  For a more complete discussion regarding these
and other factors which could affect the company's financial performance,
refer to the company's Securities and Exchange Commission filing on Form 10-K
for the year ended March 31, 2000, in particular information under the
headings "Business" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations."  The company disclaims any intent or
obligation to update its forward-looking statements.
SOURCE Almost Family, Inc.
http://www.prnewswire.com/comp/784275.html or fax,
800-758-5804, ext. 784275
CONTACT:
William Yarmuth or Steve Guenthner, of Almost
Family, Inc., 502-899-5355