$ADUS
Addus HomeCare Corp

2018 Q3 Form 10-Q Financial Statement

#000119312518322326 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3 2016 Q4
Revenue $137.6M $108.6M $103.9M
YoY Change 26.74% 4.92% 22.52%
Cost Of Revenue $100.9M $79.54M $75.00M
YoY Change 26.89% 4.52% 19.81%
Gross Profit $36.42M $29.12M $28.90M
YoY Change 25.04% 6.29% 30.18%
Gross Profit Margin 26.46% 26.82% 27.82%
Selling, General & Admin $28.30M $21.50M $19.30M
YoY Change 31.63% -7.33% 8.43%
% of Gross Profit 77.72% 73.82% 66.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.600M $1.800M $1.700M
YoY Change 44.44% 125.0% 41.67%
% of Gross Profit 7.14% 6.18% 5.88%
Operating Expenses $30.80M $23.25M $21.00M
YoY Change 32.5% -6.64% 10.53%
Operating Profit $5.613M $5.877M $7.900M
YoY Change -4.49% 135.08% 146.88%
Interest Expense $1.543M $870.0K $2.200M
YoY Change 77.36% -245.0% -1200.0%
% of Operating Profit 27.49% 14.8% 27.85%
Other Income/Expense, Net $100.0K $100.0K
YoY Change 0.0%
Pretax Income $4.558M $5.031M $10.20M
YoY Change -9.4% 151.55% 264.29%
Income Tax $927.0K $1.623M $2.600M
% Of Pretax Income 20.34% 32.26% 25.49%
Net Earnings $3.358M $3.464M $7.700M
YoY Change -3.06% 103.76% 133.33%
Net Earnings / Revenue 2.44% 3.19% 7.41%
Basic Earnings Per Share $0.28 $0.30
Diluted Earnings Per Share $0.27 $0.29 $658.1K
COMMON SHARES
Basic Shares Outstanding 12.18M 11.49M
Diluted Shares Outstanding 12.57M 11.63M

Balance Sheet

Concept 2018 Q3 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.5M $45.70M $8.000M
YoY Change 222.76% 15.99% 95.12%
Cash & Equivalents $147.5M $45.69M $8.013M
Short-Term Investments
Other Short-Term Assets $1.644M $5.600M $5.300M
YoY Change -70.64% -54.84% 47.22%
Inventory
Prepaid Expenses
Receivables $106.7M $96.30M $117.0M
Other Receivables $1.300M $600.0K $700.0K
Total Short-Term Assets $261.1M $148.3M $131.0M
YoY Change 76.04% 11.5% 39.51%
LONG-TERM ASSETS
Property, Plant & Equipment $9.453M $7.500M $6.600M
YoY Change 26.04% 25.0% -23.26%
Goodwill $134.1M $72.69M
YoY Change
Intangibles $26.20M
YoY Change
Long-Term Investments $900.0K $900.0K
YoY Change 0.0% 0.0%
Other Assets $0.00 $3.200M $3.400M
YoY Change -100.0% 6.25%
Total Long-Term Assets $169.7M $119.6M $98.90M
YoY Change 41.9% 22.79% 7.62%
TOTAL ASSETS
Total Short-Term Assets $261.1M $148.3M $131.0M
Total Long-Term Assets $169.7M $119.6M $98.90M
Total Assets $430.8M $267.9M $229.9M
YoY Change 60.8% 16.28% 23.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.737M $4.900M $4.500M
YoY Change 37.49% 13.95% -4.26%
Accrued Expenses $52.44M $46.90M $42.60M
YoY Change 11.8% 6.83% 17.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.318M $3.400M $2.500M
YoY Change -31.82% 54.55% 127.27%
Total Short-Term Liabilities $62.34M $55.30M $49.60M
YoY Change 12.73% 9.72% 17.54%
LONG-TERM LIABILITIES
Long-Term Debt $98.89M $40.40M $22.50M
YoY Change 144.78% 77.97% 1084.21%
Other Long-Term Liabilities $641.0K
YoY Change
Total Long-Term Liabilities $100.6M $40.40M $22.50M
YoY Change 149.08% 77.97% 1084.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.34M $55.30M $49.60M
Total Long-Term Liabilities $100.6M $40.40M $22.50M
Total Liabilities $163.0M $95.60M $72.10M
YoY Change 70.47% 19.5% 63.49%
SHAREHOLDERS EQUITY
Retained Earnings $91.81M
YoY Change
Common Stock $13.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $269.2M $172.3M $154.7M
YoY Change
Total Liabilities & Shareholders Equity $430.8M $267.9M $229.9M
YoY Change 60.8% 16.28% 23.74%

Cashflow Statement

Concept 2018 Q3 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $3.358M $3.464M $7.700M
YoY Change -3.06% 103.76% 133.33%
Depreciation, Depletion And Amortization $2.600M $1.800M $1.700M
YoY Change 44.44% 125.0% 41.67%
Cash From Operating Activities $4.500M $54.00M -$31.70M
YoY Change -91.67% 9.53% 574.47%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M -$1.300M -$500.0K
YoY Change 30.77% 160.0% -44.44%
Acquisitions
YoY Change
Other Investing Activities -$500.0K -$22.40M $400.0K
YoY Change -97.77% -109.76%
Cash From Investing Activities -$2.200M -$23.70M -$100.0K
YoY Change -90.72% 5825.0% -98.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 76.00M -400.0K 400.0K
YoY Change -19100.0% -97.73% -140.0%
NET CHANGE
Cash From Operating Activities 4.500M 54.00M -31.70M
Cash From Investing Activities -2.200M -23.70M -100.0K
Cash From Financing Activities 76.00M -400.0K 400.0K
Net Change In Cash 78.30M 29.90M -31.40M
YoY Change 161.87% -4.47% 193.46%
FREE CASH FLOW
Cash From Operating Activities $4.500M $54.00M -$31.70M
Capital Expenditures -$1.700M -$1.300M -$500.0K
Free Cash Flow $6.200M $55.30M -$31.20M
YoY Change -88.79% 11.04% 721.05%

Facts In Submission

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CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
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CY2018Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
55813000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16596000
CY2018Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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us-gaap Interest Expense
InterestExpense
3629000
CY2017Q3 us-gaap Interest Expense
InterestExpense
870000
us-gaap Interest Expense
InterestExpense
3836000
CY2018Q3 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3579000
CY2017Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-840000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1368000
CY2018Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1430000
us-gaap Interest Income Other
InterestIncomeOther
0
CY2017Q3 us-gaap Interest Income Other
InterestIncomeOther
0
us-gaap Interest Income Other
InterestIncomeOther
2300000
us-gaap Interest Paid Net
InterestPaidNet
1538000
us-gaap Interest Paid Net
InterestPaidNet
3202000
us-gaap Investment Income Interest
InvestmentIncomeInterest
50000
CY2017Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
30000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2468000
CY2018Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
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Liabilities
92030000
CY2018Q3 us-gaap Liabilities
Liabilities
162968000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
267110000
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
430778000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
51724000
CY2018Q3 us-gaap Liabilities Current
LiabilitiesCurrent
62338000
CY2017Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
40306000
CY2018Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
100630000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
42959000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
101209000
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3099000
CY2018Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2318000
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
39860000
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
98891000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18205000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
134775000
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6935000
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2901000
CY2018Q3 us-gaap Prepaid Insurance
PrepaidInsurance
1457000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23108000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-65731000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42578000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24679000
us-gaap Net Income Loss
NetIncomeLoss
10366000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
3408000
us-gaap Net Income Loss
NetIncomeLoss
12701000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
3546000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Operating Expenses
OperatingExpenses
66193000
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OperatingExpenses
23246000
us-gaap Operating Expenses
OperatingExpenses
82974000
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
30802000
us-gaap Operating Income Loss
OperatingIncomeLoss
18688000
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OperatingIncomeLoss
5807000
us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
5903000
CY2017Q4 us-gaap Other Accrued Liabilities Current
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3149000
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3407000
CY2017Q4 us-gaap Other Assets
OtherAssets
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CY2018Q3 us-gaap Other Assets
OtherAssets
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CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
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OtherAssetsCurrent
1644000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
33110000
CY2017Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
11402000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
43739000
CY2018Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
15694000
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
446000
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
641000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
165000
CY2017Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
64000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2823000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
73000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
22419000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
62347000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3089000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3384000
CY2017Q4 us-gaap Prepaid Rent
PrepaidRent
555000
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8379000
CY2018Q3 us-gaap Prepaid Rent
PrepaidRent
1208000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div> <p style="text-align: left;"><b><i><font class="_mt" style="font-family: TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif;" size="2">Reclassification of Prior Period Balances</font></i></b></p> <p style="text-align: left;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font class="_mt" style="font-family: TimesNewRomanPSMT,Times New Roman,Times,serif;" size="2">Certain reclassifications have been made to prior period amounts to conform to the current-year presentation including the reporting of other long-term liabilities as a separate line item on the Unaudited Condensed Consolidated Balance Sheets. These reclassifications have no effect on the reported net income.</font></p></div> </div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
76618000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
45000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
60420000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
30000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
20000000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2400000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1158000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
450000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7489000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9453000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6208000
CY2017Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2106000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
214000
CY2018Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
49000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
30000000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1067000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
952000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24063000
us-gaap Restructuring Charges
RestructuringCharges
383000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1500000
CY2017Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
600000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1400000
CY2018Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
300000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
79105000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
91806000
us-gaap Revenues
Revenues
313758000
CY2017Q3 us-gaap Revenues
Revenues
108592000
us-gaap Revenues
Revenues
378315000
CY2018Q3 us-gaap Revenues
Revenues
137631000
us-gaap Share Based Compensation
ShareBasedCompensation
1818000
us-gaap Share Based Compensation
ShareBasedCompensation
2961000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
175080000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
267810000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
76618000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
450000
us-gaap Use Of Estimates
UseOfEstimates
<div> <div class="MetaData"> <p style="text-align: left;"><b><i><font class="_mt" style="font-family: TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif;" size="2">Estimates</font></i></b></p> <p style="text-align: left;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font class="_mt" style="font-family: TimesNewRomanPSMT,Times New Roman,Times,serif;" size="2">The financial statements are prepared by management in conformity with GAAP and include estimated amounts and certain disclosures based on assumptions about future events. The Company's critical accounting estimates include the </font><font class="_mt" style="font-family: TimesNewRomanPSMT,Times New Roman,Times,serif;" size="2">following areas: the implicit price concessions factored into net service revenues, allowance for doubtful accounts, reserve for self-insurance claims, accounting for stock-based compensation, accounting for income taxes, business combinations and when required, the quantitative assessment of goodwill. Actual results could differ from those estimates.</font></p></div> </div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11616000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11631000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12037000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12569000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11464000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11486000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11740000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12179000
CY2017Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
12574000
CY2018Q3 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
14846000

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