Accredo Health, Inc. Announces Record Fourth Quarter and Year End Results.
Business Wire › August 30, 2004
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Accredo Health, Inc. Announces Record Fourth Quarter and Year End Results.
MEMPHIS, Tenn. -- Accredo Health, Incorporated (NASDAQ:ACDO) today reported record results for its fourth quarter and year ended June 30, 2004. Net income for the quarter increased 15% to $19.8 million, or $0.40 per diluted share, compared to $17.2 million, or $0.36 per diluted share, for the same period in fiscal 2003. Revenues for the quarter increased 16% to $382.8 million compared to $329.1 million for the same period in fiscal 2003. For the year, net income was $78.3 million, or $1.60 per diluted share, compared to $29.5 million, or $0.61 per diluted share, in fiscal 2003. For the year, revenues increased 10% to $1.517 billion compared to $1.373 billion in fiscal 2003. In addition, gross profit margins were 21.0% and earnings before minority interest, interest, taxes, depreciation and amortization (EBITDA) as a percentage of revenues were 9.9% for the year ended June 30, 2004. An explanation and reconciliation of net income under generally accepted accounting principles (GAAP) to EBITDA is discussed in the question and answer section of this press release.
The financial information contained herein is unaudited. The audit will not be complete until the Company files its report on form 10-K with the SEC, which is due September 1...See the full content of this document
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