Kindred Healthcare Reports Second Quarter 2017 Results
By a
__________ (1)
Results reflect after-tax costs of
All financial and statistical information included in this earnings release reflects the continuing operations of the Company's businesses for all periods presented unless otherwise indicated. As a result of developments in the second quarter of 2017 related to the planned divestiture of the Company's skilled nursing facility business, the operating results, direct overhead and losses associated with this business were classified, for accounting purposes, as discontinued operations for all periods presented. These changes include the transfer of profits from applicable
GAAP operating cash flows were
GAAP diluted loss per share from continuing operations was
The Company recorded a pretax
__________ (1)
See "2017 and 2018 Outlook" below for further details. All forward-looking non-GAAP financial measures are provided only on a non-GAAP basis due to the inherent difficulty of forecasting the timing or amount of items that would be included in the most directly comparable forward-looking GAAP financial measures. As a result, reconciliation of the forward-looking non-GAAP measures to GAAP financial measures is not available without unreasonable effort and the Company is unable to assess the probable significance of the unavailable information. (2) See reconciliation of GAAP results to non-GAAP results beginning on page 14. During the first quarter of 2017, the Company revised its definition of "core" non-GAAP measures. See "Non-GAAP Measures" beginning on page 14 for a discussion regarding the revised definitions. For comparability, core results for 2016 have been revised to conform to the current year presentation. (3) See full segment data on pages 9 through 13.
Second Quarter Segment Results(1)(2)(3)(Continued): same-store basis, home health admissions increased 2.8% and episodic admissions were flat while same-store hospice admissions declined 3.0% over the prior year period. Segment adjusted operating income and Core EBITDAR increased 1.9% and 1.3%, respectively, for the second quarter of 2017 as compared to the prior year period. Home health direct labor costs per visit declined 3.0% and hospice direct labor costs per patient day declined 1.8% in the second quarter of 2017 both as compared to the first quarter of 2017.
Keywords for this news article include: Hospital, Investment and Finance,
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