Amedisys (AMED) 8-K Amedisys Reports Second Quarter 2019 Financial Results

Exhibit 99.1

AMEDISYS REPORTS SECOND QUARTER 2019 FINANCIAL RESULTS

AND UPDATES 2019 GUIDANCE

BATON ROUGE, Louisiana (July 31, 2019) — Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three andsix-month periods ended June 30, 2019.

Three Month Periods Ended June 30, 2019 and 2018

• Net service revenue increased $81.4 million to $493.0 million compared to $411.6 million in 2018.

• Net income attributable to Amedisys, Inc. of $33.7 million compared to $33.3 million in 2018.

• Net income attributable to Amedisys, Inc. per diluted share of $1.02 compared to $0.98 in 2018.

Adjusted Quarterly Results*

• Adjusted EBITDA of $61.4 million compared to $49.7 million in 2018.

• Adjusted net service revenue of $498.5 million compared to $413.3 million in 2018.

• Adjusted net income attributable to Amedisys, Inc. of $39.9 million compared to $34.1 million in 2018.

• Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.21 compared to $1.00 in 2018.

Six Month Periods Ended June 30, 2019 and 2018

• Net service revenue increased $149.4 million to $960.3 million compared to $810.9 million in 2018.

• Net income attributable to Amedisys, Inc. of $65.0 million compared to $60.5 million in 2018.

• Net income attributable to Amedisys, Inc. per diluted share of $1.98 compared to $1.76 in 2018.

Adjusted Year to Date Results*

• Adjusted EBITDA of $116.2 million compared to $91.4 million in 2018.

• Adjusted net service revenue of $966.3 million compared to $812.6 million in 2018.

• Adjusted net income attributable to Amedisys, Inc. of $76.3 million compared to $61.4 million in 2018.

• Adjusted net income attributable to Amedisys, Inc. per diluted share of $2.32 compared to $1.79 in 2018.

* See pages 12 and 13 for the definition and reconciliations ofnon-GAAP financial measures to GAAP measures.

Paul B. Kusserow, President and Chief Executive Officer stated, “I am very proud of our second quarter results as we continue to best internal and external expectations. Most importantly and core to what we do, our growth allows us to bring clinical excellence to even more patients across home health, hospice and personal care. Providing our clinically distinct services to as many patients wherever they call home is why we get out of bed every morning and I am thankful to our team of over 21,000 employees for continuing to do all that you do to drive such impressive results and provide such incredible care.”

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Updated 2019 Guidance

• Net service revenue is anticipated to be in the range of $1.94 billion to $1.98 billion.

• Adjusted EBITDA is anticipated to be in the range of $213 million to $216 million.

• Adjusted diluted earnings per share is anticipated to be in the range of $4.05 to $4.12 based on an estimated 33.1 million shares outstanding.

This guidance excludes the effects of any future acquisitions, if any are made.

We urge caution in considering the current trends and 2019 guidance disclosed in this press release. The home health and hospice industry is highly competitive and subject to intensive regulations, and trends 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 Form10-K for the fiscal year ended December 31, 2018, and subsequent Quarterly Reports on Form10-Q, and current reports on Form8-K which can be found on the SEC’s internet website,http://www.sec.gov, and our internet website,http://www.amedisys.com.

Earnings Call and Webcast Information

Amedisys will host a conference call on Thursday, August 1, 2019, at 11:00 a.m. ET to discuss its second quarter results. To participate on the conference call, please call before 11:00 a.m. ET to either (877)524-8416 (Toll-Free) or (412)902-1028 (Toll). A replay of the conference call will be available through September 1, 2019 by dialing (877)660-6853 (Toll-Free) or (201)612-7415 (Toll) and entering conference ID #13691942.

A live webcast of the call will be accessible through our website on our Investor Relations section at the following web address:http://investors.amedisys.com.

Non-GAAP Financial Measures

This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) tonon-GAAP financial measures. Thenon-GAAP financial measures as defined under SEC rules are as follows: (1) adjusted EBITDA, defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, excluding certain items; (2) adjusted net service revenue, defined as net service revenue excluding certain items; (3) adjusted net income attributable to Amedisys, Inc., defined as net income attributable to Amedisys, Inc. excluding certain items; and (4) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income attributable to Amedisys, Inc. common stockholders per diluted share excluding certain items. Management believes that thesenon-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. Thesenon-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to the GAAP financial measures presented in this earnings release and the company’s financial statements.Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate thesenon-GAAP measures consistently.

Additional information

Amedisys, Inc. (the “Company”) is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 3,000 hospitals and 65,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With more than 21,000 employees in 471 care centers within 38 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 376,000 patients and clients in need every year. For more information about the Company, please visit: www.amedisys.com.

We use our website as a channel of distribution for important company information. Important information, including press releases, investor 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. Visitors to our website can also register to receive automatice-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.

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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 or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis, 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, competition in the healthcare 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 consistently provide high-quality care, our ability to attract and retain qualified personnel, changes in payments and covered services by federal and state governments, future cost containment initiatives undertaken by third-party payors, our access to financing, 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, manage and keep our information systems secure, our ability to realize the anticipated benefits of the acquisition of Compassionate Care Hospice (“CCH”), our ability to comply with requirements stipulated in the CCH corporate integrity agreement, and changes in law or developments with respect to any litigation relating to the Company, including 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.

Contact:	Investor Contact:	Media Contact:
	Amedisys, Inc. Nick Muscato Vice President, Strategic Finance (855)259-2046 IR@amedisys.com	Amedisys, Inc. Kendra Kimmons Vice President, Marketing & Communications (225)299-3720 kendra.kimmons@amedisys.com

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AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share data)

(Unaudited)

	For the Three-Month Periods Ended June 30						For the Six-Month Periods Ended June 30
	2019			2018			2019			2018
Net service revenue	$	492,984		$	411,603		$	960,324		$	810,865
Cost of service, excluding depreciation and amortization		290,752			242,564			566,026			480,873
General and administrative expenses:
Salaries and benefits		98,356			77,215			193,186			152,846
Non-cash compensation		5,538			3,767			12,153			7,811
Other		48,408			42,104			91,810			83,784
Depreciation and amortization		5,179			3,125			8,074			6,718
Operating expenses		448,233			368,775			871,249			732,032
Operating income		44,751			42,828			89,075			78,833
Other income (expense):
Interest income		20			114			44			234
Interest expense		(4,332	)		(2,140	)		(7,681	)		(3,843	)
Equity in earnings from equity method investments		3,716			2,976			4,932			4,836
Miscellaneous, net		193			359			429			960
Total other (expense) income, net		(403	)		1,309			(2,276	)		2,187
Income before income taxes		44,348			44,137			86,799			81,020
Income tax expense		(10,308	)		(10,596	)		(21,186	)		(20,159	)
Net income		34,040			33,541			65,613			60,861
Net income attributable to noncontrolling interests		(298	)		(192	)		(567	)		(353	)
Net income attributable to Amedisys, Inc.	$	33,742		$	33,349		$	65,046		$	60,508
Basic earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders	$	1.05		$	1.00		$	2.03		$	1.80
Weighted average shares outstanding		32,075			33,439			32,038			33,705
Diluted earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders	$	1.02		$	0.98		$	1.98		$	1.76
Weighted average shares outstanding		32,933			34,179			32,913			34,391

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AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share data)

	June 30, 2019 (unaudited)			December 31, 2018
ASSETS
Current assets:
Cash and cash equivalents	$	13,902		$	20,229
Patient accounts receivable		239,674			188,972
Prepaid expenses		8,957			7,568
Other current assets		13,252			7,349
Total current assets		275,785			224,118
Property and equipment, net of accumulated depreciation of $98,936 and $95,472		29,762			29,449
Operating lease right of use assets		85,026			—
Goodwill		664,822			329,480
Intangible assets, net of accumulated amortization of $35,402 and $33,050		61,966			44,132
Deferred income taxes		30,213			35,794
Other assets		58,288			54,145
Total assets	$	1,205,862		$	717,118
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	35,690		$	28,531
Payroll and employee benefits		111,660			92,858
Accrued expenses		131,860			99,475
Current portion of long-term obligations		7,610			1,612
Current portion of operating lease liabilities		26,187			—
Total current liabilities		313,007			222,476
Long-term obligations, less current portion		266,468			5,775
Operating lease liabilities, less current portion		57,392			—
Other long-term obligations		6,053			6,234
Total liabilities		642,920			234,485
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; 36,445,591 and 36,252,280 shares issued; and 32,130,184 and 31,973,505 shares outstanding		36			36
Additionalpaid-in capital		623,309			603,666
Treasury stock, at cost 4,315,407 and 4,278,775 shares of common stock		(246,175	)		(241,685	)
Accumulated other comprehensive income		15			15
Retained earnings		184,596			119,550
Total Amedisys, Inc. stockholders’ equity		561,781			481,582
Noncontrolling interests		1,161			1,051
Total equity		562,942			482,633
Total liabilities and equity	$	1,205,862		$	717,118

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AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING

(Amounts in thousands, except statistical information)

(Unaudited)

	For the Three-Month Periods Ended June 30						For the Six-Month Periods Ended June 30
	2019			2018			2019			2018
Cash Flows from Operating Activities:
Net income	$	34,040		$	33,541		$	65,613		$	60,861
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		5,179			3,125			8,074			6,718
Non-cash compensation		5,538			3,767			12,153			7,811
401(k) employer match		2,307			2,327			4,686			4,894
Amortization and impairment of operating lease right of use assets		9,150			—			17,495			—
Loss (gain) on disposal of property and equipment		2			87			(2	)		650
Deferred income taxes		2,606			6,200			5,875			9,145
Equity in earnings from equity method investments		(3,716	)		(2,976	)		(4,932	)		(4,836	)
Amortization of deferred debt issuance costs/debt discount		220			177			433			355
Write off of deferred debt issuance costs		—			38			—			38
Return on equity investment		117			1,579			842			2,204
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable		(1,832	)		(4,656	)		(24,165	)		3,604
Other current assets		2,292			(4,698	)		(8,343	)		(11,680	)
Other assets		282			642			(56	)		688
Accounts payable		1,665			5,146			(9,475	)		3,623
Accrued expenses		10,424			6,355			29,262			4,548
Other long-term obligations		(37	)		(1	)		(181	)		2,347
Operating lease liabilities		(8,061	)		—			(16,200	)		—
Operating lease right of use assets		(910	)		—			(1,754	)		—
Net cash provided by operating activities		59,266			50,653			79,325			90,970
Cash Flows from Investing Activities:
Proceeds from sale of deferred compensation plan assets		5			9			213			471
Proceeds from the sale of property and equipment		81			6			146			11
Investments in equity method investees		(90	)		—			(210	)		—
Purchases of property and equipment		(1,495	)		(149	)		(2,693	)		(1,611	)
Acquisitions of businesses, net of cash acquired		(17,547	)		(1,824	)		(345,414	)		(4,074	)
Net cash used in investing activities		(19,046	)		(1,958	)		(347,958	)		(5,203	)
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options		987			2,484			1,343			2,609
Proceeds from issuance of stock to employee stock purchase plan		752			560			1,534			1,157
Shares withheld upon stock vesting		(1,802	)		(1,527	)		(4,490	)		(2,832	)
Noncontrolling interest distribution		(91	)		(322	)		(457	)		(350	)
Proceeds from borrowings under term loan		—			—			175,000			—
Proceeds from borrowings under revolving line of credit		23,000			127,500			184,500			127,500
Repayments of borrowings under revolving line of credit		(58,000	)		—			(92,000	)		—
Principal payments of long-term obligations		(1,718	)		(87,656	)		(2,277	)		(90,475	)
Debt issuance costs		—			(2,433	)		(847	)		(2,433	)
Purchase of company stock		—			(181,402	)		—			(181,402	)
Net cash (used in) provided by financing activities		(36,872	)		(142,796	)		262,306			(146,226	)
Net increase (decrease) in cash and cash equivalents		3,348			(94,101	)		(6,327	)		(60,459	)
Cash and cash equivalents at beginning of period		10,554			120,005			20,229			86,363
Cash and cash equivalents at end of period	$	13,902		$	25,904		$	13,902		$	25,904
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	3,462		$	1,015		$	4,187		$	2,080
Cash paid for income taxes, net of refunds received	$	7,445		$	3,336		$	7,849		$	6,149
Days revenue outstanding (1)		41.1			41.1			41.1			41.1

(1) Our calculation of days revenue outstanding at June 30, 2019 and 2018 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three month periods ended June 30, 2019 and 2018, respectively.

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AMEDISYS, INC. AND SUBSIDIARIES

SEGMENT INFORMATION

(Amounts in millions, except statistical information)

(Unaudited)

Segment Information - Home Health

	For the Three- Month Periods Ended June 30,
	2019			2018
Financial Information(in millions):
Medicare	$	219.1		$	206.3
Non-Medicare		99.5			85.2
Net service revenue		318.6			291.5
Cost of service		187.8			176.5
Gross margin		130.8			115.0
Other operating expenses		75.1			69.2
Operating income	$	55.7		$	45.8
Same Store Growth (1):
Medicare revenue		6	%		6	%
Non-Medicare revenue		17	%		18	%
Total admissions		7	%		6	%
Total volume (2)		6	%		8	%
Total Episodic admissions (3)		6	%		5	%
Total Episodic volume (4)		4	%		6	%
Key Statistical Data - Total (5):
Medicare:
Admissions		48,870			47,058
Recertifications		27,777			28,431
Total volume		76,647			75,489
Completed episodes		76,302			74,776
Visits		1,322,393			1,318,074
Average revenue per completed episode (6)	$	2,953		$	2,874
Visits per completed episode (7)		17.6			17.8
Non-Medicare:
Admissions		32,893			29,271
Recertifications		15,584			13,891
Total volume		48,477			43,162
Visits		774,093			690,548
Total (5):
Visiting Clinician Cost per Visit	$	81.97		$	80.07
Clinical Manager Cost per Visit		7.65			7.76
Total Cost per Visit	$	89.62		$	87.83
Visits		2,096,486			2,008,622

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	For the Six- Month Periods Ended June 30,
	2019			2018
Financial Information(in millions):
Medicare	$	432.5		$	411.3
Non-Medicare		196.2			164.3
Net service revenue		628.7			575.6
Cost of service		373.5			350.9
Gross margin		255.2			224.7
Other operating expenses		147.5			138.0
Operating income	$	107.7		$	86.7
Same Store Growth (1):
Medicare revenue		5	%		5	%
Non-Medicare revenue		20	%		16	%
Total admissions		7	%		5	%
Total volume (2)		6	%		7	%
Total Episodic admissions (3)		5	%		4	%
Total Episodic volume (4)		4	%		6	%
Key Statistical Data - Total (5):
Medicare:
Admissions		99,190			96,513
Recertifications		54,889			55,667
Total volume		154,079			152,180
Completed episodes		150,280			147,612
Visits		2,653,802			2,632,200
Average revenue per completed episode (6)	$	2,928		$	2,833
Visits per completed episode (7)		17.5			17.5
Non-Medicare:
Admissions		66,542			59,160
Recertifications		30,267			26,323
Total volume		96,809			85,483
Visits		1,527,772			1,351,481
Total (5):
Visiting Clinician Cost per Visit	$	81.51		$	80.20
Clinical Manager Cost per Visit		7.83			7.88
Total Cost per Visit	$	89.34		$	88.08
Visits		4,181,574			3,983,681

(1) Same store information represents the percent change in our Medicare,Non-Medicare, Total and Episodic revenue, admissions or volume for the period as a percent of the Medicare,Non-Medicare, Total and Episodic revenue, admissions or volume of the prior period.

(2) Total volume includes all admissions and recertifications.

(3) Total Episodic admissions includes admissions for Medicare andNon-Medicare payors that bill on a60-day episode of care basis.

(4) Total Episodic volume includes admissions and recertifications for Medicare andNon-Medicare payors that bill on a60-day episode of care basis.

(5) Total includes acquisitions and denovos.

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(6) Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care.

(7) 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.

Segment Information - Hospice

	For the Three- Month Periods Ended June 30,
	2019			2018
Financial Information(in millions):
Medicare	$	145.8		$	96.9
Non-Medicare		7.4			4.5
Net service revenue		153.2			101.4
Cost of service		87.3			51.7
Gross margin		65.9			49.7
Other operating expenses		35.3			20.6
Operating income	$	30.6		$	29.1
Same Store Growth (1):
Medicare revenue		1	%		13	%
Hospice admissions		7	%		7	%
Average daily census		5	%		12	%
Key Statistical Data - Total (2):
Hospice admissions		10,430			6,746
Average daily census		11,427			7,554
Revenue per day, net	$	147.27		$	147.58
Cost of service per day	$	83.96		$	75.20
Average discharge length of stay		98			97

	For the Six- Month Periods Ended June 30,
	2019			2018
Financial Information(in millions):
Medicare	$	276.5		$	188.7
Non-Medicare		13.7			10.0
Net service revenue		290.2			198.7
Cost of service		161.4			101.8
Gross margin		128.8			96.9
Other operating expenses		64.7			40.8
Operating income	$	64.1		$	56.1
Same Store Growth (1):
Medicare revenue		5	%		12	%
Hospice admissions		6	%		6	%
Average daily census		7	%		12	%
Key Statistical Data - Total (2):
Hospice admissions		20,141			13,679
Average daily census		10,709			7,385
Revenue per day, net	$	149.72		$	148.66
Cost of service per day	$	83.25		$	76.15
Average discharge length of stay		98			97

(1) Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period.

(2) Total includes acquisitions and denovos.

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Segment Information - Personal Care

	For the Three- Month Periods Ended June 30,
	2019		2018
Financial Information(in millions):
Medicare	$	—	$	—
Non-Medicare		21.2		18.7
Net service revenue		21.2		18.7
Cost of service		15.6		14.4
Gross margin		5.6		4.3
Other operating expenses		3.2		3.3
Operating income	$	2.4	$	1.0
Key Statistical Data - Total (1):
Billable hours		848,245		797,228
Clients served		12,962		12,683
Shifts		382,287		356,874
Revenue per hour	$	25.01	$	23.48
Revenue per shift	$	55.49	$	52.45
Hours per shift		2.2		2.2

	For the Six- Month Periods Ended June 30,
	2019		2018
Financial Information(in millions):
Medicare	$	—	$	—
Non-Medicare		41.4		36.6
Net service revenue		41.4		36.6
Cost of service		31.1		28.2
Gross margin		10.3		8.4
Other operating expenses		6.4		6.6
Operating income	$	3.9	$	1.8
Key Statistical Data - Total (1):
Billable hours		1,681,862		1,547,181
Clients served		14,687		14,350
Shifts		758,469		705,040
Revenue per hour	$	24.60	$	23.66
Revenue per shift	$	54.56	$	51.91
Hours per shift		2.2		2.2

(1) Total includes acquisitions.

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Segment Information - Corporate

	For the Three- Month Periods Ended June 30,
	2019		2018
Financial Information(in millions):
Other operating expenses	$	40.2	$	31.1
Depreciation and amortization		3.7		2.0
Total operating expenses	$	43.9	$	33.1

	For the Six- Month Periods Ended June 30,
	2019		2018
Financial Information(in millions):
Other operating expenses	$	81.5	$	61.3
Depreciation and amortization		5.1		4.5
Total operating expenses	$	86.6	$	65.8

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AMEDISYS, INC. AND SUBSIDIARIES

RECONCILIATION OFNON-GAAP FINANCIAL MEASURES TO GAAP MEASURES

(Amounts in thousands)

(Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”):

	For the Three- Month Period Ended June 30,						For the Six- Month Period Ended June 30,
	2019			2018			2019			2018
Net income attributable to Amedisys, Inc.	$	33,742		$	33,349		$	65,046		$	60,508
Add:
Income tax expense		10,308			10,596			21,186			20,159
Interest expense, net		4,312			2,026			7,637			3,609
Depreciation and amortization		5,179			3,125			8,074			6,718
Certain items (1)		8,257			1,035			15,171			1,224
Interest component of certain items (1)		(446	)		(446	)		(887	)		(829	)
Adjusted EBITDA (2) (6)	$	61,352		$	49,685		$	116,227		$	91,389

Adjusted Net Service Revenue Reconciliation:

	For the Three- Month Period Ended June 30,				For the Six- Month Period Ended June 30,
	2019		2018		2019		2018
Net service revenue	$	492,984	$	411,603	$	960,324	$	810,865
Add:
Certain items (1)		5,515		1,687		5,993		1,687
Adjusted net service revenue (3) (6)	$	498,499	$	413,290	$	966,317	$	812,552

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:

	For the Three- Month Period Ended June 30,				For the Six- Month Period Ended June 30,
	2019		2018		2019		2018
Net income attributable to Amedisys, Inc.	$	33,742	$	33,349	$	65,046	$	60,508
Add:
Certain items (1)		6,110		766		11,226		906
Adjusted net income attributable to Amedisys, Inc. (4) (6)	$	39,852	$	34,115	$	76,272	$	61,414

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share:

	For the Three- Month Period Ended June 30,				For the Six- Month Period Ended June 30,
	2019		2018		2019		2018
Net income attributable to Amedisys, Inc. common stockholders per diluted share	$	1.02	$	0.98	$	1.98	$	1.76
Add:
Certain items (1)		0.19		0.02		0.34		0.03
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share (5) (6)	$	1.21	$	1.00	$	2.32	$	1.79

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(1) The following details the certain items for the three andsix-month periods ended June 30, 2019 and 2018:

Certain Items:

		For the Three-Month Period Ended June 30, 2019			For the Six-Month Period Ended June 30, 2019
		(Income) Expense			(Income) Expense
Certain Items Impacting Net Service Revenue:
Contingency accrual		$	5,523		$	6,541
Planned closures (7)			(8	)		(548	)
Certain Items Impacting Cost of Service:
Planned closures (7)			313			1,157
Certain Items Impacting Operating Expenses:
Planned closures (7)			69			157
Acquisition costs			4,494			10,252
Legal fees -non-routine			108			(24	)
Certain Items Impacting Total Other Income (Expense):
Miscellaneous, other (income) expense, net			(2,242	)		(2,364	)
Total		$	8,257		$	15,171
Net of tax		$	6,110		$	11,226
Diluted EPS		$	0.19		$	0.34
		For the Three-Month Period Ended June 30, 2018			For theSix-Month Period Ended June 30, 2018
	��	(Income) Expense			(Income) Expense
Certain Items Impacting Net Service Revenue:
Florida self-audit(pre-acquisition)		$	1,687		$	1,687
Certain Items Impacting Operating Expenses:
Acquisition costs			440			875
Legal fees -non-routine			543			1,105
Certain Items Impacting Total Other Income (Expense):
Miscellaneous, other (income) expense, net			(1,635	)		(2,443	)
Total		$	1,035		$	1,224
Net of tax		$	766		$	906
Diluted EPS		$	0.02		$	0.03

(2) Adjusted EBITDA is defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, excluding certain items as described in footnote 1.

(3) Adjusted net service revenue is defined as net service revenue excluding certain items as described in footnote 1.

(4) Adjusted net income attributable to Amedisys, Inc. is defined as net income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1.

(5) Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1.

(6) Adjusted EBITDA, adjusted net service revenue, adjusted net income attributable to Amedisys, Inc. and adjusted net income 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 or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate thesenon-GAAP financial measures in the same manner.

(7) Planned closures consist ofin-patient units acquired from Compassionate Care Hospice whose operations ceased in April 2019.

13