Providence service corp (PRSC)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Home and community based services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

84,125

-

77,679

81,336

77,244

69,044

76,550

Foster care services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,355

-

8,598

8,668

8,251

8,830

9,272

Management fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,995

-

3,228

3,335

3,344

3,339

3,384

Non-emergency transportation services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

164,672

-

146,046

141,970

138,965

135,936

133,113

Service revenue, net

367,291

384,833

393,385

363,911

367,815

360,762

343,771

343,736

336,696

101,226

409,517

407,983

399,494

41,416

412,271

398,119

382,036

260,375

379,568

418,238

419,829

150,050

309,474

343,953

289,403

-47,071

276,713

287,637

281,487

286,520

280,285

278,937

260,147

244,311

235,552

235,310

227,806

217,151

222,320

Operating expenses:
Service expense

332,661

-

-

-

340,498

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service expense

-

-

356,271

345,948

-

319,241

313,511

317,741

303,115

-

-

377,036

369,410

36,953

378,488

367,846

348,676

292,418

350,583

371,616

366,537

139,089

280,444

309,130

259,937

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of non-emergency transportation services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

176,684

-

183,248

180,639

156,979

143,530

137,550

132,227

126,108

121,079

116,561

Client service expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75,517

-

73,462

76,528

80,210

78,217

75,970

77,405

72,813

71,546

73,863

General and administrative expense

20,795

15,004

15,979

16,860

19,401

24,011

17,045

18,139

17,898

16,203

18,629

18,048

17,027

-13,020

17,320

16,711

18,516

12,705

20,521

18,294

19,466

-6,019

20,326

16,156

13,617

-10,675

11,082

12,731

12,452

14,784

12,069

13,791

12,739

11,833

12,690

12,413

11,923

12,172

11,779

Asset impairment charge

-

-

0

0

-

-

0

678

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

492

-

-

2,506

0

-

-

0

-

-

-

-

Depreciation and amortization

3,790

3,840

4,148

4,353

4,475

4,706

3,780

3,747

3,580

-6,098

6,547

6,900

6,269

-7,279

6,670

6,849

6,540

-8,128

5,882

13,191

13,053

2,086

6,256

5,143

3,728

-1,857

3,725

3,734

3,729

3,769

4,018

3,610

3,626

3,676

3,401

3,328

3,249

3,174

3,126

Total operating expenses

357,246

377,279

376,398

367,161

364,374

361,455

334,336

340,305

324,593

82,838

403,208

401,984

392,706

18,069

402,478

391,406

373,732

296,995

376,986

403,101

399,056

135,156

307,026

330,429

277,282

-41,713

268,737

276,184

268,382

278,263

275,303

274,568

253,554

237,258

229,613

225,374

214,095

207,973

205,331

Operating income

10,045

7,554

16,987

-3,250

3,441

-693

9,435

3,431

12,103

18,388

6,309

5,999

6,788

23,347

9,793

6,713

8,304

-36,620

2,582

15,137

20,773

14,894

2,448

13,524

12,121

-5,358

7,976

11,453

13,105

8,257

4,982

4,369

6,593

7,053

5,938

9,935

13,711

9,177

16,988

Other expenses (income):
Interest expense, net

-241

-58

-188

-301

-303

-975

-250

-232

-326

-221

-302

-329

-352

-276

-338

-407

-494

7,579

-515

-3,722

-5,195

-6,583

-795

-1,261

-1,585

-1,605

-1,876

-1,689

-1,751

-13,314

1,990

1,909

1,907

1,939

2,203

2,330

3,731

3,933

4,067

Other income

0

-

66

66

66

-

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in net loss of investee

-2,550

-

-3,188

-1,315

-1,656

-2,053

-1,587

-174

-2,344

14,435

-460

1,530

-2,060

3,904

-1,517

-1,459

-2,717

-2,963

-4,465

-1,059

-2,483

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of equity investment

-

-

-

-

-

-

-

-

-

-

12,606

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on remeasurement of cost method investment

-

-

0

-

-

-

6,577

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-525

-

-

-

0

-

-

0

0

0

-2,463

0

0

Loss (gain) on foreign currency transactions

-

-

-

-

-

-

-

-

-

-

-200

-463

62

-

482

775

75

-274

736

714

-319

303

-164

-61

-41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on bargain purchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,710

-

-

-

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

43

42

42

52

48

59

62

55

Income from continuing operations before income taxes

7,254

-15,951

13,677

-4,800

1,548

-3,721

14,175

3,025

9,433

25,960

17,953

6,737

4,438

25,643

8,420

5,622

5,168

-32,278

-1,662

11,070

12,776

8,286

1,817

12,202

10,495

-6,963

5,575

9,764

11,354

6,445

3,017

2,503

4,728

5,157

3,787

10,364

7,575

5,306

12,976

(Benefit) provision for income taxes

-9,046

-4,513

5,097

-1,391

234

-2,268

3,880

1,062

2,010

-4,388

2,989

2,879

2,523

5,505

4,678

3,997

3,792

-1,060

2,495

6,227

6,921

-2,014

565

5,530

4,208

-3,987

2,048

3,888

4,676

3,581

1,859

1,085

1,686

2,203

1,836

2,798

3,105

2,398

5,700

Income from continuing operations, net of tax

16,300

-11,438

8,580

-3,409

1,314

-1,453

10,295

1,963

7,423

30,348

14,964

3,858

1,915

20,138

3,742

1,625

1,376

-31,218

-4,157

4,843

5,855

-

1,252

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations, net of tax

-202

5,380

-426

1,697

-732

-19,026

-2,964

-13,366

-1,697

8,734

-16

-117

-5,866

62,633

-2,791

2,370

753

106,998

-1,253

1,732

394

-

-986

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

16,098

-6,058

8,154

-1,712

582

-20,479

7,331

-11,403

5,726

39,082

14,948

3,741

-3,951

82,771

951

3,995

2,129

75,780

-5,410

6,575

6,249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss from discontinued operations attributable to non-controlling interest

-

-

0

0

-

-129

177

-188

296

156

95

-174

374

-1,649

301

-628

-106

-616

161

-59

12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) attributable to Providence

-

-

8,154

-1,712

-

-20,350

7,154

-11,215

5,430

38,926

14,853

3,915

-4,325

84,420

650

4,623

2,235

76,396

-5,571

6,634

6,237

7,050

266

6,672

6,287

3,357

3,527

5,876

6,678

2,864

1,158

1,418

3,042

2,953

1,950

7,565

4,469

2,907

7,276

Net income (loss) available to common stockholders (Note 11)

12,998

-6,196

6,104

-2,810

-535

-21,657

5,224

-12,321

3,497

33,713

11,962

2,434

-5,473

73,579

-745

3,104

1,002

65,413

-6,687

4,181

5,092

7,050

266

6,672

6,287

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic earnings (loss) per common share:
Continuing operations (in dollars per share)

1.02

-0.89

0.50

-0.35

0.02

-0.19

0.61

0.08

0.42

1.89

0.88

0.19

0.03

1.12

0.14

0.07

0.02

-

-0.33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations (in dollars per share)

-0.02

0.42

-0.03

0.13

-0.06

-1.49

-0.20

-1.03

-0.15

0.59

0.00

-0.01

-0.43

3.90

-0.19

0.14

0.05

-

-0.08

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic loss per common share (in dollars per share)

1.00

-0.47

0.47

-0.22

-0.04

-1.68

0.41

-0.95

0.27

2.48

0.88

0.18

-0.40

5.02

-0.05

0.21

0.07

4.09

-0.41

0.26

0.32

0.43

0.02

0.47

0.45

0.23

0.26

0.44

0.51

0.21

0.09

0.11

0.23

0.22

0.15

0.57

0.34

0.22

0.55

Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)

1.02

-0.89

0.50

-0.35

0.02

-0.18

0.60

0.08

0.42

1.87

0.88

0.19

0.03

1.11

0.14

0.07

0.02

-

-0.33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations (in dollars per share)

-0.02

0.42

-0.03

0.13

-0.06

-1.49

-0.20

-1.02

-0.15

0.59

0.00

-0.01

-0.43

3.87

-0.19

0.14

0.05

-

-0.08

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted earnings per common share (in dollars per share)

1.00

-0.47

0.47

-0.22

-0.04

-1.67

0.40

-0.94

0.27

2.46

0.88

0.18

-0.40

4.98

-0.05

0.21

0.07

4.07

-0.39

0.26

0.32

-

0.02

0.46

0.44

0.24

0.25

0.43

0.49

0.21

0.09

0.11

0.23

0.23

0.15

0.55

0.34

0.22

0.54

Weighted-average number of common shares outstanding:
Basic (in shares)

12,987

12,967

12,993

12,973

12,899

12,863

12,865

13,008

13,105

13,568

13,581

13,553

13,704

14,192

14,523

14,893

15,057

15,639

16,130

16,097

15,976

16,132

14,955

14,171

13,801

13,772

13,674

13,403

13,148

13,069

13,263

13,301

13,266

13,257

13,255

13,235

13,222

13,203

13,192

Diluted (in shares)

13,012

12,903

13,004

12,973

12,953

12,918

12,927

13,088

13,199

13,661

13,655

13,607

13,768

14,278

14,634

15,019

15,185

15,327

16,130

16,240

16,145

15,186

15,176

14,453

15,257

13,001

14,049

13,680

14,507

13,253

13,342

13,417

13,404

11,837

13,307

14,821

13,320

13,281

14,965

Earnings Per Share, Diluted

1.00

-0.47

0.47

-0.22

-0.04

-1.67

0.40

-0.94

0.27

2.46

0.88

0.18

-0.40

4.98

-0.05

0.21

0.07

4.09

-0.41

0.26

0.32

0.43

0.02

0.46

0.44

0.24

0.25

0.43

0.49

0.21

0.09

0.11

0.23

0.23

0.15

0.55

0.34

0.22

0.54