Addus HomeCare (ADUS) 8-K Completion of Two Acquisitions

Exhibit 99.1

Contacts:
Brian W. Poff	Dru Anderson
Executive Vice President,	Corporate Communications, Inc.
Chief Financial Officer	(615)324-7346
Addus HomeCare Corporation	dru.anderson@cci-ir.com
(469)535-8200
investorrelations@addus.com

ADDUS HOMECARE ANNOUNCES SECOND-QUARTER 2019 FINANCIAL RESULTS AND

COMPLETION OF TWO ACQUISITIONS

Revenues Increase 14.0 % to $149.7 million

Net Income Increases 27.8% to $5.5 Million or $0.41 per Diluted Share,

and Adjusted Diluted Earnings per Share of $0.56

Adjusted EBITDA Increases 12.9% to $12.8 Million

Same-Store Sales Increase 5.9%

Acquires Alliance Home Health Care, LLC and Assets of Foremost Home Care, Inc.

Frisco, Texas(August 5, 2019) – Addus HomeCare Corporation (NASDAQ: ADUS), a provider of comprehensive home care services, today announced its financial results for the second quarter and six months ended June 30, 2019.

Net service revenues were $149.7 million for the second quarter of 2019, up 14.0% from $131.3 million for the second quarter of 2018. Net income was $5.5 million, up 27.8% compared with $4.3 million for the second quarter of 2018, while net income per diluted share was $0.41, compared with $0.36 per diluted share for the prior-year period. Adjusted net income per diluted share grew 12.0% to $0.56 for the second quarter of 2019 from $0.50 for the second quarter of 2018.

Adjusted net income per diluted share for the second quarter of 2019 excludes M&A expenses of $0.04, restructuring, severance and other costs of $0.02, and stock-based compensation expense of $0.09. Adjusted net income per diluted share for the second quarter of 2018 excludes M&A expenses of $0.03, restructuring, severance and other costs of $0.04, and stock-based compensation expense of $0.07. Adjusted EBITDA increased 12.9% to $12.8 million for the second quarter of 2019 from $11.3 million for the second quarter of 2018. (See page 8 for a reconciliation of allnon-GAAP and GAAP financial measures in this news release.)

For the first six months of 2019, net service revenues increased 20.0% to $288.9 million from $240.7 million for the prior-year period. Net income increased 12.8% to $10.4 million for the first six months of 2019 compared with $9.2 million for the same period in 2018, and net income per diluted share was $0.77 compared with $0.78 per diluted share. Adjusted net income increased 31.4% to $14.4 million for the first six months of 2019 compared with $11.0 million for the prior-year period, while adjusted net income per diluted share grew 15.1% to $1.07 from $0.93. Adjusted EBITDA increased 17.4% to $23.6 million for the first six months of 2019 from $20.1 million for the first six months of 2018.

Dirk Allison, President and Chief Executive Officer, commented, “We are proud of our solid financial and operating results for the second quarter, reflecting continued growth through the first half of 2019. Our second-quarter revenues reflected a strong increase in same-store revenue of 5.9%, exceeding our target range of 3% to 5%. We continue to see increasing demand for our services, and these favorable trends have supported our organic growth in our current operations. In particular, we saw a higher revenue contribution from our New York market as thestate-led narrowing of the provider network has progressed.”

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ADUS Announces Second Quarter 2019 Financial Results

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August 5, 2019

At June 30, 2019, the Company had cash of $54.8 million and bank debt of $39.6 million, while availability under its revolving credit facility was $141.9 million. Net cash used in operating activities was $0.9 million for the second quarter of 2019.

Acquisition of Alliance Home Health Care And Assets Of Foremost Home Care

On August 1, Addus acquired Alliance Home Health Care, LLC, and its affiliate, House Calls of New Mexico, LLC, each located in New Mexico. The companies have combined annual revenues of approximately $19.0 million, with 60% of those revenues derived from hospice care and 20% from each of personal care and home health care services. With locations strategically placed across New Mexico, these additions will expand the Company’s service area in the state and provide additional market coverage.

Also on August 1, the Company acquired the operating assets of Foremost Home Care, Inc., a New York City-based personal care provider with annual revenues of approximately $6.0 million. The Foremost acquisition will support the Company’s growth in the important New York City market area.

The aggregate purchase price of approximately $24.0 million for both Foremost and Alliance acquisitions was funded through a combination of the Company’s revolving credit facility and available cash.

Mr. Allison added, “Our latest acquisitions are both excellent strategic fits for Addus and will further extend our market reach in their respective regions. As previously announced, we also completed the acquisition of VIP Health Care Services, a New York City-based personal care services provider, on June 1, 2019, and the integration process is going well. With annual revenues of approximately $50.0 million, we are excited about the added contribution from VIP as we expand coverage in one of our largest markets. Our development team has done an outstanding job identifying acquisition opportunities that we believe will enhance our operations and continue to drive our long-term growth and importantly, we have the financial capability to execute this strategy. Our pipeline remains robust, and, as a leading provider of comprehensive home care services, we believe we are well-positioned for continued growth. We look forward to the opportunities that lie ahead for Addus.”

Non-GAAP Financial Measures

The information provided in this release includes adjusted net income per diluted share, adjusted EBITDA and adjusted net service revenues, which arenon-GAAP financial measures. The Company defines adjusted net income per diluted share as net income per diluted share, adjusted for interest income from the State of Illinois, M&A expenses, stock-based compensation expense, restructure charges, and severance and other costs. The Company defines adjusted EBITDA as net income before interest expense, interest income, othernon-operating income, taxes, depreciation, amortization, interest income from the State of Illinois, M&A expenses, stock-based compensation expense, restructure charges, and severance and other costs. The Company defines adjusted net service revenues as net service revenues adjusted for the closure of certain sites. The Company has provided, in the financial statement tables included in this press release, a reconciliation of adjusted net income per diluted share to net income per diluted share, a reconciliation of adjusted EBITDA to net income and a reconciliation of adjusted net service revenues to net service revenues, in each case, the most directly comparable GAAP measure. Management believes that adjusted net income, adjusted net income per diluted share, adjusted EBITDA and adjusted net service revenues are useful to investors, management and others in evaluating the Company’s operating performance, to provide investors with insight and consistency in the Company’s financial reporting and to present a basis for comparison of the Company’s business operations among periods, and to facilitate comparison with the results of the Company’s peers.

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ADUS Announces Second Quarter 2019 Financial Results

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Conference Call

Addus will host a conference call on Tuesday, August 6, 2019, beginning at 9:00 a.m. Eastern time. The toll-freedial-in number is (877)930-8289 (internationaldial-in number is (253)336-8714), pass code 8286444. A telephonic replay of the conference call will be available through midnight on August 20, 2019, by dialing (855)859-2056 (internationaldial-in number is (404)537-3406) and entering pass code 8286444.

A live broadcast of Addus HomeCare’s conference call will be available under the Investor Relations section of the Company’s website:www.addus.com. An online replay of the conference call will also be available on the Company’s website for one month, beginning approximately two hours following the conclusion of the live broadcast.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as “continue,” “expect,” and similar expressions. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including discretionary determinations by government officials, the consummation and integration of acquisitions, anticipated transition to managed care providers, our ability to successfully execute our growth strategy, unexpected increases in SG&A and other expenses, expected benefits and unexpected costs of acquisitions and dispositions, management plans related to dispositions, the possibility that expected benefits may not materialize as expected, the failure of the business to perform as expected, changes in reimbursement, changes in government regulations, changes in Addus HomeCare’s relationships with referral sources, increased competition for Addus HomeCare’s services, changes in the interpretation of government regulations, the uncertainty regarding the outcome of discussions with managed care organizations, changes in tax rates, the impact of adverse weather, higher than anticipated costs, lower than anticipated cost savings, estimation inaccuracies in future revenues, margins, earnings and growth, whether any anticipated receipt of payments will materialize and other risks set forth in the Risk Factors section in Addus HomeCare’s Annual Report on Form10-K filed with the Securities and Exchange Commission on March 15, 2019, which is available atwww.sec.gov. Addus HomeCare undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, these forward-looking statements necessarily depend upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included in this press release do not purport to be predictions of future events or circumstances and may not be realized. (Unaudited tables and notes follow).

About Addus

Addus is a provider of comprehensive home care services that include, primarily, personal care services that assist with activities of daily living, as well as hospice and home health services. Addus’ consumers are primarily persons who, without these services, are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus’ payor clients include federal, state and local governmental agencies, managed care organizations, commercial insurers and private individuals. Addus currently provides home care services to approximately 40,000 consumers through 162 locations across 24 states. For more information, please visitwww.addus.com.

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ADUS Announces Second Quarter 2019 Financial Results

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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(amounts and shares in thousands, except per share data)

(Unaudited)

Income Statement Information:	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Net service revenues	$	149,692	$	131,258	$	288,946	$	240,734
Cost of service revenues		109,222		95,515		210,902		177,058
Gross profit		40,470		35,743		78,044		63,676
	27.0%		27.2%		27.0%		26.5%
General and administrative expenses		30,222		26,495		59,479		48,032
Depreciation and amortization		2,535		2,335		4,609		4,142
Total operating expenses		32,757		28,830		64,088		52,174
Operating income from continuing operations		7,713		6,913		13,956		11,502
Total interest expense, net		585		1,350		988		(62	)
Income before income taxes		7,128		5,563		12,968		11,564
Income tax expense		1,610		1,245		2,588		2,360
Net income	$	5,518	$	4,318	$	10,380	$	9,204
Net income per diluted share	$	0.41	$	0.36	$	0.77	$	0.78
Weighted average number of common shares outstanding—diluted		13,433		11,838		13,413		11,767

Cash Flow Information:	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Net cash (used in) provided by operating activities	$	(881	)	$	5,888		$	(4,078	)	$	20,164
Net cash (used in) investing activities		(30,798	)		(59,772	)		(31,804	)		(63,471	)
Net cash provided by financing activities		20,301			59,695			20,268			58,770
Net change in cash		(11,378	)		5,811			(15,614	)		15,463
Cash at the beginning of the period		66,170			63,406			70,406			53,754
Cash at the end of the period	$	54,792		$	69,217		$	54,792		$	69,217

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ADUS Announces Second Quarter 2019 Financial Results

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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

	June 30,
	2019		2018
Assets
Current assets
Cash	$	54,792	$	69,217
Accounts receivable, net		132,764		103,351
Prepaid expenses and other current assets		9,148		5,918
Total current assets		196,704		178,486
Property and equipment, net		11,428		8,398
Other assets
Goodwill		145,812		133,082
Intangible assets, net		36,480		28,090
Operating lease assets		18,260		—
Total other assets		200,552		161,172
Total assets	$	408,684	$	348,056
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	13,230	$	10,204
Accrued expenses		19,087		10,039
Accrued payroll		22,162		21,859
Accrued workers compensation		13,890		14,245
Current portion of long-term debt, net of debt issuance costs		955		2,494
Current portion of contingentearn-out obligation		—		847
Total current liabilities		69,324		59,688
Long-term debt, less current portion, net of debt issuance costs		36,231		99,358
Long-term lease liability, less current portion		12,929		—
Deferred tax liabilities, net		617		946
Other long-term liabilities		242		427
Total long-term liabilities		50,019		100,731
Total liabilities		119,343		160,419
Total stockholders’ equity		289,341		187,637
Total liabilities and stockholders’ equity	$	408,684	$	348,056

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ADUS Announces Second Quarter 2019 Financial Results

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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES

Net Service Revenues by Segment

(Amounts in thousands)

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Personal Care	$	138,254	$	125,086	$	266,895	$	234,562
Hospice		8,437		4,649		16,354		4,649
Home Health		3,001		1,523		5,697		1,523
Total Revenue	$	149,692	$	131,258	$	288,946	$	240,734

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ADUS Announces Second Quarter 2019 Financial Results

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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES

Key Statistical and Financial Data

(Unaudited)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
General
Adjusted EBITDA (in thousands)(1)	$	12,801		$	11,341		$	23,592		$	20,103
States served at period end		—			—			24			25
Locations at period end		—			—			162			157
Employees at period end		—			—			32,473			31,835
Personal Care
Average billable census—same store(2)		36,726			35,094			36,573			35,050
Average billable census—acquisitions(3)		2,300			2,655			2,188			2,691
Average billable census total		39,026			37,749			38,761			37,741
Billable hours (in thousands)		7,269			6,828			14,133			12,858
Average billable hours per census per month		61.6			59.8			60.3			56.5
Billable hours per business day		111,829			105,053			109,557			98,910
Revenues per billable hour	$	19.02		$	18.32		$	18.88		$	18.24
Hospice
Admissions		474			250			985			250
Average daily census		611			541			593			541
Average length of stay		126.7			157.8			121.5			157.8
Patient days		54,807			32,600			106,531			32,600
Revenue per patient day	$	153.94		$	142.60		$	153.52		$	142.60
Home Health
New Admissions		700			388			1,415			388
Recertifications		543			369			1,185			369
Total Volume		1,243			757			2,600			757
Visits		24,157			12,857			43,711			12,857
Percentage of Revenues by Payor:
Personal Care
State, local and other governmental programs		54.3	%		57.9	%		55.1	%		59.4	%
Managed care organizations		39.1			34.6			38.3			34.8
Private duty		3.8			4.5			3.8			4.0
Commercial		1.5			1.5			1.5			1.0
Other		1.3			1.5			1.3			0.8
Hospice
Medicare		92.6	%		93.7	%		92.9	%		93.7	%
Managed care organizations		5.6			6.3			5.1			6.3
Other		1.8			—			2.0			—
Home Health
Medicare		81.2	%		92.2	%		81.4	%		92.2	%
Managed care organizations		15.9			7.1			15.6			7.1
Other		2.9			0.7			3.0			0.7

⁽¹⁾  We define Adjusted EBITDA as net income before interest expense, taxes, depreciation, amortization, M&A expenses, stock-based compensation expense, restructure charges and severance and other costs. Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.

⁽²⁾  Exited sites would have reduced same store census for the three months ended June 30, 2018 by 0 and the six months ended June 30, 2018 by 14.

⁽³⁾  The average billable census in acquisitions of 2,335 for the three and six months ended June 30, 2018 was reclassified to average billable census—same stores for comparability purposes. The average billable census for the three and six months ended June 30, 2019 was prorated for the date of the acquisition.

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ADUS Announces Second Quarter 2019 Financial Results

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ADDUS HOMECARE CORPORATION AND SUBSIDIARIES

Reconciliation ofNon-GAAP Financial Measures

(Amounts in thousands, except per share data)

(Unaudited)

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Reconciliation of Adjusted EBITDA to Net Income:(1)
Net income	$	5,518	$	4,318	$	10,380	$	9,204
Interest expense, net		585		1,350		988		2,192
Interest income from Illinois		—		—		—		(2,253	)
Income tax expense		1,610		1,245		2,588		2,360
Depreciation and amortization		2,535		2,335		4,609		4,142
M&A expenses		741		530		1,237		1,532
Stock-based compensation expense		1,482		997		2,715		1,856
Restructure and severance costs		330		566		1,075		1,070
Adjusted EBITDA	$	12,801	$	11,341	$	23,592	$	20,103
Reconciliation of Adjusted Net Income to Net Income:(2)
Net income	$	5,518	$	4,318	$	10,380	$	9,204
Interest income from Illinois, net of tax		—		—		—		(1,790	)
M&A expenses, net of tax		571		420		990		1,218
Stock-based compensation expense, net of tax		1,140		792		2,172		1,476
Restructuring and severance costs, net of tax		253		450		860		852
Adjusted Net Income	$	7,482	$	5,980	$	14,402	$	10,960
Reconciliation of Net Income per Diluted Share to Adjusted Net Income per Diluted Share:(3)
Net income per diluted share	$	0.41	$	0.36	$	0.77	$	0.78
Interest income from Illinois per diluted share		—		—		—		(0.15	)
M&A expenses per diluted share		0.04		0.03		0.07		0.10
Restructure and severance cost per diluted share		0.02		0.04		0.07		0.07
Stock-based compensation expense per diluted share		0.09		0.07		0.16		0.13
Adjusted net income per diluted share	$	0.56	$	0.50	$	1.07	$	0.93
Reconciliation of Net Service Revenues to Adjusted Net Service Revenues:(4)
Net service revenues	$	149,692	$	131,258	$	288,946	$	240,733
Revenues associated with the closure of certain sites		—		8		—		2
Adjusted net service revenues	$	149,692	$	131,266	$	288,946	$	240,735

⁽¹⁾  We define Adjusted EBITDA as earnings before interest expense, interest income, othernon-operating income, taxes, depreciation, amortization, M&A expenses, stock-based compensation expense, restructure expenses, severance and other costs and gain on the sale of ADS. Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.

⁽²⁾  We define Adjusted Net Income as net income before interest income from the state of Illinois, M&A expenses, stock-based compensation expense, restructure expenses, severance and other costs and gain on the sale of ADS. Adjusted Net Income is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.

⁽³⁾  We define Adjusted diluted earnings per share as earnings per share, adjusted for interest income from the State of Illinois, M&A expenses, stock compensation expense and restructure expense, severance and other costs and gain on the sale of ADS. Adjusted diluted earnings per share is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.

⁽⁴⁾  We define Adjusted net service revenues as revenue adjusted for the closure of certain sites. Adjusted net service revenues is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.

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