Apria doubles its 4th quarter net income

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Sunday, February 23, 2003

February 24, 2003

LAKE FOREST, Calif. - Apria Healthcare's revenues for the quarter ended December 31, 2002 tallied $328.4 million, a 12% increase compared to revenues of $293.1 million for the fourth quarter of 2001. Net income for the quarter was $40 million compared to $20 million for the fourth quarter of 2001.

Revenues for the year ended December 31, 2002, were $1.3 billion, an 11% increase over 2001 revenues of $1.1 billion. Net income for 2002 was $115.6 million compared to $71.9 million for 2001.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $77.3 million for the fourth quarter of 2002 compared to $67 million for the fourth quarter of 2001. As of December 31, 2002, net days sales outstanding (DSO) were 51 days.

During 2002, Apria purchased 17 businesses for approximately $74 million.

Apria provides home respiratory therapy, home infusion therapy and home medical equipment through approximately 400 branches serving patients in 50 states.

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