Amedisys (AMED) 8-K Amedisys Reports Third Quarter Financial Results

Exhibit 99.1

Contacts:	Investor Contact:	Media Contact:
	Amedisys, Inc.	Amedisys, Inc.
	Tom Dolan	Jacqueline Chen Valencia
	Senior Vice President, Finance and Treasurer	Senior Vice President – Marketing & Communications
	(225) 292-3391	(225) 299-3688
	tom.dolan@amedisys.com	jacqueline.chen@amedisys.com

AMEDISYS REPORTS THIRD QUARTER FINANCIAL RESULTS

RECORDS U.S DEPARTMENT OF JUSTICE SETTLEMENT CHARGE

TO HOST CONFERENCE CALL TODAY AT 10:00 A.M. ET

BATON ROUGE, Louisiana (November 12, 2013) — Amedisys, Inc. (NASDAQ: AMED), a leading home health and hospice company, today reported its financial results for the third quarter ended September 30, 2013.

U.S. Department of Justice Settlement Charge

During the third quarter of 2013, we recorded an accrual of $150 million related to the tentative settlement of both the U.S. Department of Justice investigation and the Stark Law Self-Referral matter (the “U.S. Department of Justice settlement”). We have agreed to this tentative settlement without any admission of wrongdoing in order to resolve these matters and to avoid the uncertainty and expense of protracted litigation. In connection with the tentative settlement, we expect to enter into a corporate integrity agreement with the Office of the Inspector General – HHS.

On November 11, 2013, we entered into a second amendment to our Credit Agreement dated as of October 26, 2012, amending certain covenants, representations and other provisions to, among other things allow, for the U.S. Department of Justice settlement. In connection with entering into the second amendment, we repaid the $20 million outstanding principal amount of our Series B Senior Notes due March 25, 2014.

Three-Month Periods Ended September 30, 2013 and 2012

• After adding back for the 2013 period $145.0 million ($90.2 million, net of tax) or $2.86 per diluted share for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items* and deducting for the 2012 period $1.4 million ($1.8 million, net of income tax) or $0.06 per diluted share for certain other items*, our adjusted results were as follows:

• Net service revenue of $301.6 million compared to $364.3 million in 2012.

• Net (loss) income from continuing operations attributable to Amedisys, Inc., of $(0.2) million compared to $8.5 million in 2012. (Net (loss) income from continuing operations of $(90.4) million compared to $10.4 million in 2012 on a GAAP basis.)

• Net (loss) income from continuing operations attributable to Amedisys, Inc. per diluted share of $(0.01) compared to $0.28 per diluted share in 2012. (Net (loss) income from continuing operations attributable to Amedisys, Inc. per diluted share of $(2.87) compared to $0.34 per diluted share in 2012 on a GAAP basis.)

• Earnings before interest, taxes, depreciation and amortization attributable to continuing operations (“EBITDA”) of $8.7 million compared to $26.4 million in 2012.

Nine-Month Periods Ended September 30, 2013 and 2012

• After adding back for the 2013 period $152.1 million ($94.6 million, net of tax) or $3.04 per diluted share for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items* and after adding back for the 2012 period $3.7 million ($1.2 million, net of income tax) or $0.04 per diluted share for certain other items*, our adjusted results were as follows:

• Net service revenue of $947.1 million compared to $1.1 billion in 2012.

• Net income from continuing operations attributable to Amedisys, Inc., of $10.1 million compared to $26.8 million in 2012. (Net (loss) income from continuing operations of $(84.5) million compared to $25.7 million in 2012 on a GAAP basis.)

• Net income from continuing operations attributable to Amedisys, Inc. per diluted share of $0.32 compared to $0.89 per diluted share in 2012. (Net (loss) income from continuing operations attributable to Amedisys, Inc. per diluted share of $(2.72) compared to $0.85 per diluted share in 2012 on a GAAP basis.)

• EBITDA of $46.5 million compared to $81.5 million

* See page 10 & 11 for explanation of these certain items and the reconciliations of non-GAAP financial measures

William F. Borne, Chief Executive Officer stated, “Adjusting for the accrual related to our U.S. Department of Justice settlement, and for other certain items disclosed in more detail elsewhere in this earnings release, we reported results for the quarter that were below expectations. We ended the quarter with an adjusted loss from continuing operations of 1 cent per diluted share which caused us to lower our guidance for the year. Consistent with previous communications, these adjusted numbers do not include legal costs associated with the U.S. Department of Justice and other matters. Results were impacted by soft volume in both our home health and hospice business units and higher costs, primarily in our home health cost of revenue line.

Updated 2013 Guidance

• Net service revenue is anticipated to be in the range of $1.240 billion to $1.250 billion.

• Diluted earnings per share is expected to be in the range of $0.20 to $0.25 based on an estimated 31.7 million shares outstanding.

This guidance excludes the accrual related to our U.S. Department of Justice settlement, and other certain items disclosed in more detail elsewhere in this earnings release. However, our guidance includes an estimate of legal costs associated with our on-going legal matters.

We urge caution in considering the current trends and 2013 guidance disclosed in this press release. The home health and hospice industry is highly competitive and subject to intensive regulations, and trends and guidance are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission (“SEC”) including our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, and subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SEC’s internet website,http://www.sec.gov, and our internet website,http://www.amedisys.com. We disclaim any obligations to update disclosed information on trends.

Earnings Call and Webcast Information

To participate in the conference call, please call a few minutes before 10:00 a.m. ET on Tuesday, November 12, 2013, to either (877) 512-9171 (Toll free) or (815) 573-0979 (Toll), use conference ID #93623188. A replay of the conference call will be available through November 19, 2013. The replay dial in number is (855) 859-2056 (Toll free) or (404) 537-3406 (Toll), use conference ID #93623188.

The call will also be available through our website and for seven days thereafter at the following web address:http://investors.amedisys.com.

We are headquartered in Baton Rouge, Louisiana. Our common stock trades on the NASDAQ Global Select Market under the symbol “AMED.”

Additional information

Our company website address iswww.amedisys.com. We use our website as a channel of distribution for important company information. Important information, including press releases, analyst presentations and financial information regarding our company, is routinely posted on and accessible on the Investor Relations subpage of our website, which is accessible by clicking on the tab labeled “Investors” on our website home page. We also use our website to expedite public access to time-critical information regarding our company in advance of or in lieu of distributing a press release or a filing with the SEC disclosing the same information. Therefore, investors should look to the Investor Relations subpage of our website for important and time-critical information. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.

Forward-Looking Statements

When included in this press release, words like “believes,” “belief,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “would,” “should” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to the following: changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, our ability to divest care centers currently held for sale, changes in or our failure to comply with existing Federal and State laws or regulations or the inability to comply with new government

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regulations on a timely basis, competition in the home health industry, changes in the case mix of patients and payment methodologies, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to attract and retain qualified personnel, changes in payments and covered services due to the economic downturn and deficit spending by Federal and State governments, future cost containment initiatives undertaken by third-party payors, our access to financing due to the volatility and disruption of the capital and credit markets, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, our ability to integrate and manage our information systems, our ability to agree on the terms of a settlement to resolve both the U.S. Department of Justice investigation and the Stark Law Self-Referral matter or fund required settlement payments in the manner currently contemplated and changes in law or developments with respect to any litigation or investigations relating to the Company, including the SEC investigation, the OIG Self-Disclosure issues and various other matters, many of which are beyond our control.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Non-GAAP Financial Measures

This press release includes the following non-GAAP financial measures as defined under SEC rules: EBITDA, defined as net (loss) income from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, adjusted EBITDA, defined as EBITDA excluding the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items*, adjusted net income from continuing operations attributable to Amedisys, Inc., defined as net (loss) income from continuing operations attributable to Amedisys, Inc. excluding the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items*, and adjusted net income from continuing operations attributable to Amedisys, Inc. per diluted share, defined as net (loss) income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share excluding the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items*. In accordance with SEC rules, we have provided herein a reconciliation of these non-GAAP financial measures to the most directly comparable measures under GAAP. Management believes that these are useful gauges of our performance and are common measures used in our industry to assess relative financial performance among companies.

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AMEDISYS, INC. AND SUBSIDIARIES

SELECT CONSOLIDATED FINANCIAL STATEMENT DATA AND SUPPLEMENTAL INFORMATION

(Amounts in thousands, except share, per share data and statistical information)

(Unaudited)

Balance Sheet Information

	September 30, 2013			December 31, 2012
ASSETS
Current assets:
Cash and cash equivalents	$	43,626		$	14,545
Patient accounts receivable, net of allowance for doubtful accounts of $15,601 and $20,994		111,149			169,172
Prepaid expenses		11,460			10,631
Deferred income taxes		57,008			—
Other current assets		9,819			11,440
Assets held for sale		1,348			—
Total current assets		234,410			205,788
Property and equipment, net of accumulated depreciation of $125,392, and $113,154		160,077			156,709
Goodwill		208,126			209,594
Intangible assets, net of accumulated amortization of $24,926 and $23,457		42,332			47,050
Deferred tax asset		83,123			92,804
Other assets, net		26,501			18,650
Total assets	$	754,569		$	730,595
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable	$	24,362		$	29,175
Accrued charge related to U.S. Department of Justice settlement		150,000			—
Payroll and employee benefits		68,923			79,341
Accrued expenses		54,340			54,855
Current portion of long-term obligations		34,855			35,807
Current portion of deferred income taxes		—			5,609
Total current liabilities		332,480			204,787
Long-term obligations, less current portion		36,000			66,904
Other long-term obligations		8,297			4,671
Total liabilities		376,777			276,362
Equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding		—			—
Common stock, $0.001 par value, 60,000,000 shares authorized; 33,278,397 and 31,876,508 share issued; and 32,409,474 and 31,086,619 share outstanding		33			32
Additional paid-in capital		462,962			450,792
Treasury stock at cost, 868,923 and 789,889 shares of common stock		(18,080	)		(17,116	)
Accumulated other comprehensive income		15			15
Retained earnings		(67,932	)		18,617
Total Amedisys, Inc. stockholders’ equity		376,998			452,340
Noncontrolling interests		794			1,893
Total equity		377,792			454,233
Total liabilities and equity	$	754,569		$	730,595

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Statement of Operations Information

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2013			2012			2013			2012
Net service revenue	$	301,639		$	364,343		$	947,165		$	1,090,673
Cost of service, excluding depreciation and amortization		175,483			206,970			539,582			612,929
General and administrative expenses:
Salaries and benefits		73,993			78,711			229,123			246,155
Non-cash compensation		1,653			1,284			4,933			6,065
Other		40,360			46,760			123,734			135,564
Provision for doubtful accounts		3,971			5,487			12,531			15,788
Depreciation and amortization		10,471			9,771			32,152			29,375
U.S. Department of Justice settlement		150,000			—			150,000			—
Operating expenses		455,931			348,983			1,092,055			1,045,876
Operating (loss) income		(154,292	)		15,360			(144,890	)		44,797
Other income (expense):
Interest income		18			10			40			52
Interest expense		(687	)		(1,982	)		(2,523	)		(6,058	)
Equity in earnings from equity investments		354			390			1,054			1,091
Gain on sale of care centers		1,451			—			1,808			—
Miscellaneous, net		5,102			(9	)		5,296			298
Total other income (expense), net		6,238			(1,591	)		5,675			(4,617	)
(Loss) income before income taxes		(148,054	)		13,769			(139,215	)		40,180
Income tax benefit (expense)		56,962			(3,332	)		53,454			(14,296	)
(Loss) income from continuing operations		(91,092	)		10,437			(85,761	)		25,884
Discontinued operations, net of tax		(686	)		(442	)		(2,036	)		(2,460	)
Net (loss) income		(91,778	)		9,995			(87,797	)		23,424
Net loss (income) attributable to noncontrolling interests		709			(73	)		1,248			(200	)
Net (loss) income attributable to Amedisys, Inc.	$	(91,069	)	$	9,922		$	(86,549	)	$	23,224
Basic earnings per common share:
(Loss) income from continuing operations attributable to Amedisys, Inc. common stockholders	$	(2.87	)	$	0.34		$	(2.72	)	$	0.86
Discontinued operations, net of tax		(0.02	)		(0.01	)		(0.06	)		(0.08	)
Net (loss) income attributable to Amedisys, Inc. common stockholders	$	(2.89	)	$	0.33		$	(2.78	)	$	0.78
Weighted average shares outstanding		31,505			30,055			31,102			29,741
Diluted earnings per common share:
(Loss) income from continuing operations attributable to Amedisys, Inc. common stockholders	$	(2.87	)	$	0.34		$	(2.72	)	$	0.85
Discontinued operations, net of tax		(0.02	)		(0.01	)		(0.06	)		(0.08	)
Net (loss) income attributable to Amedisys, Inc. common stockholders	$	(2.89	)	$	0.33		$	(2.78	)	$	0.77
Weighted average shares outstanding		31,505			30,423			31,102			30,068
Amounts attributable to Amedisys, Inc. common stockholders:
(Loss) income from continuing operations	$	(90,383	)	$	10,364		$	(84,513	)	$	25,684
Discontinued operations, net of tax		(686	)		(442	)		(2,036	)		(2,460	)
Net (loss) income	$	(91,069	)	$	9,922		$	(86,549	)	$	23,224

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Cash Flow and Days Revenue Outstanding, Net Information

	For the Three-Month Periods ended September 30,						For the Nine-Month Periods ended September 30,
	2013			2012			2013			2012
Net cash provided by operating activities	$	27,885		$	21,761		$	93,862		$	53,866
Net cash used in investing activities		(11,241	)		(12,318	)		(35,456	)		(40,249	)
Net cash used in financing activities		(3,136	)		(7,495	)		(29,325	)		(22,515	)
Net increase (decrease) in cash and cash equivalents		13,508			1,948			29,081			(8,898	)
Cash and cash equivalents at beginning of period		30,118			37,158			14,545			48,004
Cash and cash equivalents at end of period	$	43,626		$	39,106		$	43,626		$	39,106
Days revenue outstanding, net(1)		32.0			38.7			32.0			38.7

(1) Our calculation of days revenue outstanding, net at September 30, 2013 and 2012 is derived by dividing our ending patient accounts receivable (i.e., net of estimated revenue adjustments and allowance for doubtful accounts) by our average daily net patient revenue for the three month-period ended September 30, 2013 and 2012, respectively.

Supplemental Information - Home Health

	For the Three-Month Periods Ended									For the Nine-Month Period Ended
	March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Financial Information (in millions):
Medicare	$	213.0		$	204.9		$	193.7		$	611.6
Non-Medicare		49.6			46.0			43.4			139.0
Net service revenue		262.6			250.9			237.1			750.6
Cost of service		150.8			143.6			140.9			435.3
Gross margin		111.8			107.3			96.2			315.3
Other operating expenses		85.0			81.8			79.7			246.5
Operating income	$	26.8		$	25.5		$	16.5		$	68.8
Key Statistical Data:
Medicare:
Same Store Volume (1)
Revenue		(8	%)		(10	%)		(12	%)		(10	%)
Admissions		3	%		0	%		(2	%)		0	%
Recertifications		(17	%)		(18	%)		(21	%)		(19	%)
Total (2):
Admissions		50,117			47,825			45,481			143,423
Recertifications		28,723			27,534			26,150			82,407
Completed Episodes		76,019			75,594			70,498			222,111
Visits		1,373,446			1,325,248			1,254,903			3,953,597
Average revenue per completed episode (3)	$	2,778		$	2,831		$	2,822		$	2,810
Visits per completed episode (4)		17.5			17.7			17.3			17.5
Non-Medicare(2):
Admissions		21,675			18,283			17,884			57,842
Recertifications		8,223			7,555			7,279			23,057
Visits		423,903			381,770			359,822			1,165,495
Total(2):
Cost per Visit	$	83.89		$	84.11		$	87.33		$	85.05
Visits		1,797,349			1,707,018			1,614,725			5,119,092

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	For the Three-Month Periods Ended												For the Year Ended
	March 31, 2012			June 30, 2012			September 30, 2012			December 30, 2012			December 31, 2012
Financial Information (in millions):
Medicare	$	233.4		$	231.7		$	227.2		$	224.3		$	916.6
Non-Medicare		57.0			61.6			63.0			55.8			237.4
Net service revenue		290.4			293.3			290.2			280.1			1,154.0
Cost of service		164.8			167.0			168.9			162.1			662.8
Gross margin		125.6			126.3			121.3			118.0			491.2
Other operating expenses		92.9			89.6			90.2			90.0			362.7
Operating income before impairment (5)	$	32.7		$	36.7		$	31.1		$	28.0		$	128.5
Key Statistical Data:
Medicare:
Same Store Volume (1)
Revenue		(8	%)		(8	%)		(5	%)		(7	%)		(7	%)
Admissions		(2	%)		2	%		1	%		1	%		0	%
Recertifications		(5	%)		(7	%)		(6	%)		(12	%)		(8	%)
Total (2):
Admissions		49,150			48,433			47,429			47,730			192,742
Recertifications		34,634			34,240			34,071			31,679			134,624
Completed Episodes		79,233			80,438			78,794			79,329			317,794
Visits		1,569,067			1,563,444			1,515,731			1,438,125			6,086,367
Average revenue per completed episode (3)	$	2,876		$	2,884		$	2,864		$	2,846		$	2,867
Visits per completed episode (4)		18.7			19.1			18.9			18.4			18.8
Non-Medicare (2):
Admissions		22,406			23,160			23,469			21,209			90,244
Recertifications		9,528			10,518			11,273			10,040			41,359
Visits		489,276			526,712			535,280			465,248			2,016,516
Total (2):
Cost per Visit	$	80.08		$	79.91		$	82.33		$	85.19		$	81.81
Visits		2,058,343			2,090,156			2,051,011			1,903,373			8,102,883

(1) Medicare revenue, admissions or recertifications volume is the percent increase (decrease) in our Medicare revenue, admissions or recertifications for the period as a percent of the Medicare revenue, admissions or recertifications of the prior year.

(2) Based on continuing operations for all periods presented.

(3) Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care which excludes the impact of sequestration.

(4) Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period.

(5) Operating loss of $133.6 million and $33.1 million on a GAAP basis for the three-month period and year ended December 31, 2012, respectively.

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Supplemental Information - Hospice

	For the Three-Month Periods Ended									For the Nine-Month Period Ended
	March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Financial Information (in millions):
Medicare	$	62.8		$	61.6		$	60.6		$	185.0
Non-Medicare		3.8			3.8			3.9			11.5
Net service revenue		66.6			65.4			64.5			196.5
Cost of service		35.2			34.5			34.5			104.2
Gross margin		31.4			30.9			30.0			92.3
Other operating expenses		19.7			18.1			17.8			55.6
Operating income	$	11.7		$	12.8		$	12.2		$	36.7
Key Statistical Data:
Same store Medicare revenue growth (1)		(5	%)		(11	%)		(13	%)		(10	%)
Hospice Admits		4,957			4,655			4,352			13,964
Average daily census		5,071			5,006			4,917			4,998
Revenue per day	$	145.98		$	143.61		$	142.52		$	144.04
Cost of service per day	$	77.04		$	75.34		$	75.79		$	76.06
Average length of stay		103			99			98			100

	For the Three-Month Periods Ended												For the Year Ended
	March 31, 2012			June 30, 2012			September 30, 2012			December 31, 2012			December 31, 2012
Financial Information (in millions):
Medicare	$	65.1		$	69.5		$	70.3		$	67.8		$	272.7
Non-Medicare		4.1			4.0			3.8			4.1			16.0
Net service revenue		69.2			73.5			74.1			71.9			288.7
Cost of service		36.3			37.8			38.1			37.1			149.3
Gross margin		32.9			35.7			36.0			34.8			139.4
Other operating expenses		17.6			18.9			20.2			20.9			77.6
Operating income	$	15.3		$	16.8		$	15.8		$	13.9		$	61.8
Key Statistical Data:
Same store Medicare revenue growth (1)		17	%		22	%		13	%		3	%		13	%
Hospice Admits		4,854			4,849			4,667			4,629			18,999
Average daily census		5,171			5,478			5,592			5,381			5,406
Revenue per day	$	147.05		$	147.31		$	144.10		$	145.24		$	145.89
Cost of service per day	$	77.00		$	75.68		$	73.97		$	74.85		$	75.34
Average length of stay		92			95			102			106			99

(1) Same store Medicare revenue volume is the percent increase (decrease) in our Medicare revenue for the period as a percent of the Medicare revenue of the prior year.

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Supplemental Information —  Corporate

	For the Three-Month Periods Ended									For the Nine-Month Period Ended
	March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Financial Information (in millions):
Depreciation and amortization	$	6.7		$	8.5		$	7.5		$	22.7
U.S. Department of Justice settlement		—			—			150.0			150.0
Other operating expenses		26.4			25.8			25.5			77.7
Operating (loss) income	$	(33.1	)	$	(34.3	)	$	(183.0	)	$	(250.4	)

	For the Three-Month Periods Ended												For the Year Ended
	March 31, 2012			June 30, 2012			September 30, 2012			December 31, 2012			December 31, 2012
Financial Information (in millions):
Depreciation and amortization	$	6.2		$	6.0		$	5.8		$	6.5		$	24.5
Other operating expenses		28.1			31.6			25.8			27.8			113.3
Operating (loss) income	$	(34.3	)	$	(37.6	)	$	(31.6	)	$	(34.3	)	$	(137.8	)

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AMEDISYS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO GAAP FINANCIAL STATEMENTS

(Amounts in thousands)

(Unaudited)

Earnings From Continuing Operations Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and Adjusted EBITDA

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2013			2012			2013			2012
Net (loss) income from continuing operations attributable to Amedisys, Inc.	$	(90,383	)	$	10,364		$	(84,513	)	$	25,684
Add:
Provision for income taxes		(56,962	)		3,332			(53,454	)		14,296
Interest expense, net		669			1,972			2,483			6,006
Depreciation and amortization		10,471			9,771			32,152			29,375
EBITDA (1)	$	(136,205	)	$	25,439		$	(103,332	)	$	75,361
Add:
Certain items (2)		144,955			(1,427	)		152,090			3,686
Intangible write-off		(1,542	)		—			(3,828	)		—
Tax adjustments		1,534			2,404			1,534			2,404
Adjusted EBITDA (3)	$	8,742		$	26,416		$	46,464		$	81,451

Adjusted Net (Loss) Income From Continuing Operations Attributable to Amedisys, Inc.:

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2013			2012			2013			2012
Net (loss) income from continuing operations attributable to Amedisys, Inc.	$	(90,383	)	$	10,364		$	(84,513	)	$	25,684
Add:
Certain items (2)		90,181			(1,833	)		94,576			1,153
Adjusted net (loss) income from continuing operations attributable to Amedisys, Inc. (4)	$	(202	)	$	8,531		$	10,063		$	26,837

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Adjusted Net (Loss) Income From Continuing Operations Attributable to Amedisys, Inc. per Diluted Share:

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2013			2012			2013			2012
Net (loss) income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share	$	(2.87	)	$	0.34		$	(2.72	)	$	0.85
Add:
Certain items (2)		2.86			(0.06	)		3.04			0.04
Adjusted net (loss) income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share (5)	$	(0.01	)	$	0.28		$	0.32		$	0.89

(1) EBITDA is defined as net (loss) income from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

(2) The following details the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items for the three and nine month periods ended September 30, 2013 and 2012:

	For the Three- Month Period Ended September 30, 2013									For the Nine- Month Period Ended September 30, 2013
	(Income) Expense			Net			Diluted EPS			(Income) Expense			Net			Diluted EPS
U.S. Department of Justice settlement	$	150,000		$	93,878		$	2.98		$	150,000		$	93,878		$	3.02
D&O proceeds		(5,530	)		(3,406	)		(0.11	)		(5,530	)		(3,406	)		(0.11	)
Exit activity costs		—			—			—			1,569			966			0.03
Impairment of intangibles		1,542			950			0.03			3,828			2,358			0.08
Gain on sale of care centers		(1,451	)		(894	)		(0.03	)		(1,808	)		(1,114	)		(0.04	)
Legal fees (investigations)		931			573			0.02			4,568			2,814			0.09
Tax adjustment		(1,534	)		(1,534	)		(0.05	)		(1,534	)		(1,534	)		(0.05	)
OIG self-disclosure		997			614			0.02			997			614			0.02
Total	$	144,955		$	90,181		$	2.86		$	152,090		$	94,576		$	3.04

	For the Three- Month Period Ended September 30, 2012									For the Nine- Month Period Ended September 30, 2012
	(Income) Expense			Net			Diluted EPS			(Income) Expense			Net			Diluted EPS
Legal fees (investigations)	$	977		$	571		$	0.02		$	6,090			3,557			0.12
Tax adjustment		(2,404	)		(2,404	)		(0.08	)		(2,404	)		(2,404	)		(0.08	)
Total	$	(1,427	)	$	(1,833	)	$	(0.06	)	$	3,686		$	1,153		$	0.04

(3) Adjusted EBITDA is defined as net (loss) income from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense, depreciation and amortization excluding the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items*. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

(4) Adjusted net income from continuing operations attributable to Amedisys, Inc. is defined as net (loss) income from continuing operations attributable to Amedisys, Inc. excluding the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and certain other items*. Adjusted net income from continuing operations attributable to Amedisys, Inc. should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted net income from continuing operations attributable to Amedisys, Inc. may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP measure in the same manner.

(5) Adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted (loss) earnings from continuing operations per share excluding the earnings per share effect of the accrual for the U.S. Department of Justice settlement, proceeds from our D&O insurance and other certain other items*. Adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators or operating performance. This calculation of adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

11