$ADUS
Addus HomeCare Corp

2020 Q3 Form 10-Q Financial Statement

#000156459020051722 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $194.0M $169.0M
YoY Change 14.79% 22.79%
Cost Of Revenue $137.7M $123.8M
YoY Change 11.2% 22.68%
Gross Profit $56.30M $45.18M
YoY Change 24.63% 24.06%
Gross Profit Margin 29.02% 26.73%
Selling, General & Admin $39.90M $35.10M
YoY Change 13.68% 24.03%
% of Gross Profit 70.87% 77.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.100M $2.800M
YoY Change 10.71% 7.69%
% of Gross Profit 5.51% 6.2%
Operating Expenses $43.00M $37.84M
YoY Change 13.63% 22.85%
Operating Profit $12.52M $7.335M
YoY Change 70.73% 30.68%
Interest Expense $680.0K $866.0K
YoY Change -21.48% -43.88%
% of Operating Profit 5.43% 11.81%
Other Income/Expense, Net
YoY Change
Pretax Income $11.93M $7.255M
YoY Change 64.44% 59.17%
Income Tax $2.800M $1.769M
% Of Pretax Income 23.47% 24.38%
Net Earnings $9.119M $4.912M
YoY Change 85.65% 46.28%
Net Earnings / Revenue 4.7% 2.91%
Basic Earnings Per Share $0.58 $0.36
Diluted Earnings Per Share $0.57 $0.35
COMMON SHARES
Basic Shares Outstanding 15.62M 13.77M
Diluted Shares Outstanding 15.96M 14.20M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.3M $239.6M
YoY Change -28.92% 62.44%
Cash & Equivalents $170.3M $239.6M
Short-Term Investments
Other Short-Term Assets $3.489M $5.029M
YoY Change -30.62% 205.9%
Inventory
Prepaid Expenses
Receivables $118.6M $138.0M
Other Receivables $4.700M $1.700M
Total Short-Term Assets $299.4M $386.5M
YoY Change -22.54% 48.05%
LONG-TERM ASSETS
Property, Plant & Equipment $55.10M $29.50M
YoY Change 86.78% 212.07%
Goodwill $286.6M
YoY Change
Intangibles $52.87M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.500M
YoY Change
Total Long-Term Assets $396.0M $232.6M
YoY Change 70.24% 37.06%
TOTAL ASSETS
Total Short-Term Assets $299.4M $386.5M
Total Long-Term Assets $396.0M $232.6M
Total Assets $695.4M $619.1M
YoY Change 12.32% 43.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.30M $14.74M
YoY Change 17.36% 118.81%
Accrued Expenses $33.40M $19.13M
YoY Change 74.54% -63.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.095M $970.0K
YoY Change 115.98% -58.15%
Total Short-Term Liabilities $93.70M $76.29M
YoY Change 22.83% 22.37%
LONG-TERM LIABILITIES
Long-Term Debt $59.56M $59.25M
YoY Change 0.53% -40.09%
Other Long-Term Liabilities $34.50M $12.70M
YoY Change 171.65% 1881.28%
Total Long-Term Liabilities $59.56M $59.25M
YoY Change 0.53% -41.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.70M $76.29M
Total Long-Term Liabilities $59.56M $59.25M
Total Liabilities $187.8M $135.5M
YoY Change 38.56% -16.83%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $507.6M $462.2M
YoY Change
Total Liabilities & Shareholders Equity $695.4M $619.1M
YoY Change 12.32% 43.72%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $9.119M $4.912M
YoY Change 85.65% 46.28%
Depreciation, Depletion And Amortization $3.100M $2.800M
YoY Change 10.71% 7.69%
Cash From Operating Activities $22.40M $12.20M
YoY Change 83.61% 171.11%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M -$1.100M
YoY Change 0.0% -35.29%
Acquisitions
YoY Change
Other Investing Activities -$11.50M -$23.40M
YoY Change -50.85% 4580.0%
Cash From Investing Activities -$12.50M -$24.50M
YoY Change -48.98% 1013.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.900M 197.1M
YoY Change -99.04% 159.34%
NET CHANGE
Cash From Operating Activities 22.40M 12.20M
Cash From Investing Activities -12.50M -24.50M
Cash From Financing Activities 1.900M 197.1M
Net Change In Cash 11.80M 184.8M
YoY Change -93.61% 136.02%
FREE CASH FLOW
Cash From Operating Activities $22.40M $12.20M
Capital Expenditures -$1.100M -$1.100M
Free Cash Flow $23.50M $13.30M
YoY Change 76.69% 114.52%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Estimates</p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:4.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 revenue recognition, accounts receivable and allowances and goodwill and intangible assets. Actual results could differ from those estimates.</p>
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
13296000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
96793000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
57216000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39577000
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
52873000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5300000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4400000
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P8Y8M12D
CY2020Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
2533000
CY2020Q3 adus Workers Compensation Insurance Receivable
WorkersCompensationInsuranceReceivable
2186000
CY2019Q4 adus Workers Compensation Insurance Receivable
WorkersCompensationInsuranceReceivable
1989000
CY2020Q3 adus Prepaid Workers Compensation And Liability Insurance Current
PrepaidWorkersCompensationAndLiabilityInsuranceCurrent
1792000
CY2019Q4 adus Prepaid Workers Compensation And Liability Insurance Current
PrepaidWorkersCompensationAndLiabilityInsuranceCurrent
2040000
CY2020Q3 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
426000
CY2019Q4 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
1567000
CY2020Q3 us-gaap Other Assets Current
OtherAssetsCurrent
3489000
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2397000
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10426000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7993000
CY2020Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
8448000
CY2019Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
1843000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8057000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7234000
CY2020Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
4413000
CY2019Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
4140000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3135000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2517000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9342000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6695000
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
33395000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22429000
CY2020Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
1722000
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
21000
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1899000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2452000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
61656000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
59892000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2095000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
728000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
59561000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
59164000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.236
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193987000
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
137686000
CY2020Q3 us-gaap Gross Profit
GrossProfit
56301000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
168993000
CY2019Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
123817000
CY2019Q3 us-gaap Gross Profit
GrossProfit
45176000
CY2020Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
19067000
CY2019Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
17680000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3045000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2756000
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
87000
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
786000
CY2020Q3 us-gaap Interest Expense
InterestExpense
680000
CY2019Q3 us-gaap Interest Expense
InterestExpense
866000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11930000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7255000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
568779000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
401646000
us-gaap Gross Profit
GrossProfit
167133000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
456415000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
334719000
us-gaap Gross Profit
GrossProfit
121696000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
58939000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
46907000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
8872000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
7365000
us-gaap Investment Income Interest
InvestmentIncomeInterest
576000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1096000
us-gaap Interest Expense
InterestExpense
2309000
us-gaap Interest Expense
InterestExpense
2164000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31058000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
19154000

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