Addus HomeCare Corp. reported that its loss widened in the fourth quarter due to the costs of its initial public offering and disappointing revenue from its home health business. Addus HomeCare Corporation trades on the “NASDAQ” under the stock symbol, “ADUS”. For the Latest information regarding “ADUS”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Addus HomeCare Corp.(NASDAQ:ADUS) reported on Thursday that its loss widened in the fourth quarter due to the costs of its initial public offering and disappointing revenue from its home health business.
The company, which provides home-based personal care, skilled nursing and rehabilitative therapies, said it lost $3.7 million, or 48 cents per share, in the fourth quarter. That compares with a loss of $63,000, or 6 cents per share, in the same period a year earlier.
The company said its home and community revenue grew 6.5 percent to $53.7 million, while home health revenue fell 2.4 percent to $12 million. Addus said the decline was caused by weaker results from its integrated service program.
About Addus HomeCare Corp:
Addus Healthcare, Inc. provides a range of social and medical services to individuals in the home. The company and have special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill, and disabled. It offers various health services that include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. The company’s Home and Community Services division offers assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living on a long-term, continuous basis, with an average duration of 20 months per consumer. Its Home Health Services division comprises physical, occupational, and speech therapy, as well as skilled nursing services, which are offered on a short-term, intermittent, or episodic basis to individuals recovering from an acute medical condition, with an average length of care of 54 days. Its payor clients include federal, state, and local governmental agencies; the Veterans Health Administration; and commercial insurers and private individuals. The company was founded in 1979 and is based in Palatine, Illinois.
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