Addus Homecare Corporation (ADUS) has reported 2,612.74 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $4.26 million, or $0.37 a share in the quarter, compared with $0.16 million, or $0.01 a share for the same period last year. On an adjusted basis, earnings per share were at $0.34 for the quarter compared with $0.28 in the same period last year.

Revenue during the quarter grew 9.72 percent to $101.61 million from $92.60 million in the previous year period. Gross margin for the quarter expanded 62 basis points over the previous year period to 26.89 percent. Total expenses were 93.15 percent of quarterly revenues, down from 99.29 percent for the same period last year. This has led to an improvement of 615 basis points in operating margin to 6.85 percent.

Operating income for the quarter was $6.96 million, compared with $0.65 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $7.97 million compared with $6.66 million in the prior year period. At the same time, adjusted EBITDA margin improved 66 basis points in the quarter to 7.85 percent from 7.19 percent in the last year period.  

"With our first quarter financial results, we are off to a solid start in 2017," commented Dirk Allison, president and chief executive officer of Addus. "We are pleased with our 4.1% increase in same store revenues for the first quarter and we are excited about our recently announced acquisition of Options Home Care. We also continue to benefit from a substantial margin increase due to continuing process improvements and cost reduction initiatives begun in 2016."

Cash flow from investing activities was $1.24 million for the quarter as against cash outgo of $20.79 million in the last year period.

Cash flow from financing activities was $0.29 million for the quarter, down 99.09 percent or $31.44 million, when compared with the last year period.

Cash and cash equivalents stood at stood at $19.16 million as at Mar. 31, 2017.