Expects One-Time Gain of $0.44 per share;
Also Announces Year End Change
LOUISVILLE, Ky., Sept. 14 /PRNewswire/ --
Almost Family, Inc. (Nasdaq: AFAM) made the following announcements today:
The Company's Board of Directors voted to terminate its previously adopted
plan of disposition for its Visiting Nurse (VN) operations. This decision
followed a period of extensive analysis and evaluation of numerous
alternatives for the business unit.
The decision to retain the VN operations is expected to result in a one-
time gain, to be reported in the quarter ended September 30, 2001 of
approximately $1.1 million or $0.44 per share from the reversal of previously
recorded disposition charges.
The Board of Directors voted to change the Company's fiscal year end from
March 31 to December 31 effective December 31, 2001.
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 and other institutional placement. The Company has
locations in Kentucky, Maryland, Alabama, Massachusetts, Connecticut, Indiana,
Ohio, and Florida.
Contact: William Yarmuth or Steve Guenthner (502) 899-5355.
All statements, other than statements of historical facts, included in
this news release, 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,
government regulation; health care reform; pricing pressures from Medicaid and
other 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, 2001, 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.
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Related links:
http://www.almost-family.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/784275.html
CONTACT:
William Yarmuth or Steve Guenthner of Almost
Family, Inc. +1-502-899-5355
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