Addus HomeCare (ADUS) Reports In-Line Q4 EPS, Material Weakness in Internal Controls

Addus HomeCare (NASDAQ: ADUS) reported Q4 EPS of $0.29, in-line with the analyst estimate of $0.29. Revenue for the quarter came in at $84.8 million versus the consensus estimate of $84.53 million.

The Company believes a material weakness in internal controls over financial reporting existed as of December 31, 2015, principally related to controls over its payroll system and related processes. During 2015, the Company converted to a new payroll system, which contributed to operational issues resulting in a failure of controls. Over the past few weeks, the Company has started the process of making changes to address this control deficiency. The Company will report such material weakness in Item 9A of its Annual Report on Form 10-K for the 2015 fiscal year.

For earnings history and earnings-related data on Addus HomeCare (ADUS) click here.

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