UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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Almost Family, Inc. (AFAM)
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(Name of Issuer)
COMMON
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(Title of Class of Securities)
020409108
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(CUSIP Number)
David T. Russell, PhD, 2001 East Jackson St., Bloomington, IL 61701
309-661-8554
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
11/24/00
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(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
SCHEDULE 13D/A (AMENDMENT No. 1)
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CUSIP No. 020409108
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David T. Russell
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
3) SEC USE ONLY
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4) SOURCE OF FUNDS
PF
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7) SOLE VOTING POWER
NUMBER OF
182,500 common shares (5.73%)
SHARES --------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 0
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EACH
9) SOLE DISPOSITIVE POWER
REPORTING
182,500
PERSON --------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER
0
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 182,500 shares (5.81%)
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12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.81%
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14) TYPE OF REPORTING PERSON*
IN
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Item 1. Security and Issuer
Common stock of Almost Family, Inc. (AFAM)
100 Mallard Creek Road, Suite 400, Louisville, KY, 40207.
Item 2. Identity and Background
David T. Russell is an individual investor residing in Bloomington,
Illinois, and is a citizen of the United States and the State of
Illinois. No convictions or administrative proceedings.
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is personal investment capital and available buying
power.
Item 4. Purpose of Transaction
The purpose of additional share purchases is for investment in the
leading provider of adult day care. I believe that AFAM management is
doing an excellent job of refocusing on core operations and improving
operating cash flow. Moreover, the reimbursement climate is
improving as state Medicaid programs increase rates to more
reasonable levels. AFAM's operating model provides clients and
payors with quality supervision and health care at a substantial
savings over alternatives.
The company's recent SEC filing on form 10-Q dated November 8, 2000,
indicated substantial increases in cash flows (EBITDA) and earnings.
Despite an increase in the company's common stock price during the
past four months, the company's stock price does not reflect the
company's current performance or future earning power.
If carried out, the company's previously announced plans to sell its
visiting nurse operations may provide additional opportunities
to increase shareholder value. However, given the company's strong
cash flow, it is my belief that the company needs neither the proceeds
from such a sale nor the prospects of a sale to address the current
low stock price.
I hope to work with AFAM's management and Board of Directors to
increase shareholder value and raise the company's visibility with
prospective investors. Also, I will encourage certain members of the
company's Board to make a more significant investment in the
company's shares in order to align their own interests more directly
with the interests of the shareholders.
Future purchases and sales of AFAM common stock are possible. While
none of the other actions described in items 4(b)-(j) are currently
contemplated, a persistently low valuation of the company's stock
price could motivate me to take additional action and amend this
filing accordingly.
Item 5. Interest in Securities of the Issuer
(a,b) Filer owns and has sole voting and dispositive power over
182,500 shares of AFAM common stock.
(c) Filer's transactions since 10/31/00 were the purchase of
common shares through the following transactions:
No. of AFAM Average purchase
Date shares bought price
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10/31/00 500 3.75
11/1/00 1900 3.75
11/1/00 100 4.1875
11/2/00 300 3.875
11/3/00 100 4.125
11/3/00 100 4.00
11/3/00 300 3.875
11/3/00 1000 4.4375
11/3/00 500 4.25
11/6/00 300 5.0625
11/6/00 300 4.50
11/6/00 300 4.625
11/6/00 1600 4.6875
11/6/00 1300 4.9375
11/6/00 1000 4.4375
11/6/00 1400 4.75
11/6/00 100 4.9375
11/6/00 400 4.875
11/6/00 500 4.6875
11/6/00 200 4.625
11/7/00 1000 5.25
11/9/00 700 4.4375
11/10/00 800 4.4375
11/24/00 2500 3.625
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Total: 17,200 Avg: $4.37
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A
Item 7. Material to be Filed as Exhibits
N/A
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
November 30, 2000 David T. Russell, PhD
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Date David T. Russell, PhD
