Earnings Call Excerpt
ResCare, Inc. (RSCR)
Q4 2007 Earnings Call
March 11, 2008 9:00 am ET
Executives
Ralph Gronefeld - President and Chief Executive Officer
David Miles - Chief Financial Officer
Derwin Wallace - Director of Investor Relations
Analysts
Kevin Ellich - RBC Capital Markets
Kevin Campbell - Avondale
Richard Close - Jefferies and Company
Jim Macdonald - First Analysis
Greg Williams - Sidoti & Company
Eugene - BB&T Capital Markets
Hank Ralsh - Liberty Mutual
Presentation
Operator
Ladies and gentlemen, thank you for standing by and welcome to the ResCare, Inc. earnings conference call. (Operator Instructions) And as a reminder this conference is being recorded Tuesday, March 11, 2008. And I would now like to turn the conference over to Ralph Gronefeld, President and Chief Executive Officer. Please go ahead sir.
Ralph Gronefeld
Thank you Jennifer. Good morning and welcome to the conference call reviewing ResCare’s results for the fourth quarter and year ended December 31, 2007.
I'm here today with David Miles, our Chief Financial Officer and Derwin Wallace, our Director of Investor Relations who will now present our forward-looking statements. Derwin?
Derwin Wallace
We provided notice of this call in a public news release and we welcome those joining us through the simulcast web transmission.
Our fourth quarter and year-end 2007 earnings release has been distributed to the financial media, filed with the SEC and is posted on our website rescare.com.
From time to time ResCare makes forward-looking statements in its public disclosures including statements relating to expected financial results, revenues that might be expected from new or acquired programs and facilities, its development and acquisitions activities, reimbursement under federal and state programs, compliance with debt covenants and other risk factors and various trends concerning privatization of government programs. In our filings under the federal security laws including our annual, periodic and current reports, we identify important factors that could cause ResCare’s actual results to differ materially from those anticipated in forward-looking statements. Please refer to the discussion of those factors in our filed reports. We also would note that the information being provided today is as of this date only and that ResCare does not assume any responsibility to update those forward-looking comments. Ralph?
Ralph Gronefeld
Thank you Derwin. 2007 was a exciting year for us. We improved the profitability of our employment training services segment and grew community services segment revenues by 15%.
We completed 12 acquisitions in total adding projected annualized revenues of approximately $130 million. These acquisitions will help to expand our services to greater populations and diversify our revenue strength.
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