Exhibit 99.2
VistaCare Provides Supplemental Information to Financial Results
SCOTTSDALE, Ariz., August 8 — VistaCare, Inc. (Nasdaq: VSTA), a leading provider of hospice services in the United States, today provided supplemental information to the financial results issued earlier today. The supplemental information provided is unaudited third quarter 2006 information.
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Company Contact: | | Investor Contacts: | | Media Contact: |
Henry Hirvela | | Doug Sherk/Jenifer Kirtland | | Steve DiMattia |
Chief Financial Officer | | EVC Group | | EVC Group |
(480) 648-4545 | | (415) 896-6820 | | (646) 277-8706 |
ir@vistacare.com | | dsherk@evcgroup.com | | sdimattia@evcgroup.com |
VISTACARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share information)
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| | Three Months Ended | | | Nine Months Ended | |
| | June 30, | | | June 30, | |
| | 2006 | | | 2005 | | | 2006 | | | 2005 | |
Net patient revenue | | $ | 59,914 | | | $ | 57,476 | | | $ | 175,475 | | | $ | 171,547 | |
Operating expenses: | | | | | | | | | | | | | | | | |
Patient care expenses | | | 38,215 | | | | 36,113 | | | | 111,453 | | | | 106,546 | |
Sales, general and administrative expenses | | | 20,623 | | | | 19,026 | | | | 61,675 | | | | 57,382 | |
Depreciation | | | 636 | | | | 507 | | | | 1,875 | | | | 1,440 | |
Amortization | | | 636 | | | | 549 | | | | 1,935 | | | | 2,034 | |
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Total operating expenses | | | 60,110 | | | | 56,195 | | | | 176,938 | | | | 167,402 | |
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Operating (loss) income | | | (196 | ) | | | 1,281 | | | | (1,463 | ) | | | 4,145 | |
Non-operating income (expense): | | | | | | | | | | | | | | | | |
Interest income | | | 338 | | | | 381 | | | | 1,017 | | | | 849 | |
Other expense | | | (77 | ) | | | (176 | ) | | | (317 | ) | | | (480 | ) |
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Total non-operating income, net | | | 261 | | | | 205 | | | | 700 | | | | 369 | |
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Net income (loss) before income taxes | | | 65 | | | | 1,486 | | | | (763 | ) | | | 4,514 | |
Income tax expense (benefit) | | | 258 | | | | 506 | | | | (21 | ) | | | 1,695 | |
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Net (loss) income | | $ | (193 | ) | | $ | 980 | | | $ | (742 | ) | | $ | 2,819 | |
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Net (loss) income per share: | | | | | | | | | | | | | | | | |
Basic net (loss) income per share | | $ | (0.01 | ) | | $ | 0.06 | | | $ | (0.05 | ) | | $ | 0.17 | |
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Diluted net (loss) income per share | | $ | (0.01 | ) | | $ | 0.06 | | | $ | (0.05 | ) | | $ | 0.17 | |
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Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
Basic | | | 16,408 | | | | 16,362 | | | | 16,387 | | | | 16,299 | |
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Diluted | | | 16,408 | | | | 16,909 | | | | 16,387 | | | | 16,899 | |
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VISTACARE, INC.
BALANCE SHEET AND CASH FLOWS
FOR THE PERIOD ENDING JUNE 30, 2006
($000s)
Selected Balance Sheet Accounts:
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| | 6/30/2006 | |
Cash | | | 16,657 | |
Investments | | | 27,961 | |
Accounts Receivable | | | 32,181 | |
Accounts Payable | | | 914 | |
Equity | | | 88,259 | |
Cash flow:
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| | 6/30/2006 | |
Cash, beginning (3/31/06) | | | 13,400 | |
Operating activities | | | 4,422 | |
Investing activities | | | (1,345 | ) |
Financing activities | | | 180 | |
Cash, end of period (6/30/06) | | | 16,657 | |