Medcath (MDTH) 8-K Medcath Enters Definitive Agreement to Sell Heart Hospital of Austin

Exhibit 99.2

MEDCATH CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Presenting Heart Hospital of Austin as a Discontinued Operation for Each Period Presented)
(In thousands, except per share data)
(Unaudited)

	Fiscal Year															Fiscal Year
	Ended			Quarter Ended			Quarter Ended			Quarter Ended			Quarter Ended			Ended			Quarter Ended
	September 30,			December 31,			March 31,			June 30,			September 30,			September 30,			December 31,
	2008			2008			2009			2009			2009			2009			2009
Net revenue	$	500,982		$	126,055		$	130,767		$	124,588		$	122,365		$	503,775		$	124,058
Operating expenses:
Personnel expense		169,981			43,367			44,662			43,854			41,654			173,537			45,064
Medical supplies expense		135,157			34,237			35,120			36,472			35,161			140,990			34,898
Bad debt expense		37,855			9,595			8,798			10,406			12,788			41,587			10,682
Other operating expenses		100,633			27,160			27,342			26,537			27,377			108,416			29,610
Pre-opening expenses		786			207			380			754			2,222			3,563			866
Depreciation		25,259			6,496			6,217			6,466			7,232			26,411			7,650
Amortization		32			8			8			8			867			891			8
Impairment of goodwill		—			—			—			—			60,174			60,174			—
Loss on disposal of property, equipment and other assets		217			73			108			(54	)		137			264			96
Total operating expenses		469,920			121,143			122,635			124,443			187,612			555,833			128,874
Income (loss) from operations		31,062			4,912			8,132			145			(65,247	)		(52,058	)		(4,816	)
Other (income) expenses:
Interest expense		11,261			2,097			581			396			697			3,771			1,058
Loss on early extinguishment of debt		—			6,961			(259	)		—			—			6,702			—
Interest and other income		(2,011	)		(101	)		(73	)		(47	)		(9	)		(230	)		(71	)
Equity in net earnings of unconsolidated affiliates		(7,891	)		(2,065	)		(2,714	)		(2,265	)		(2,013	)		(9,057	)		(1,516	)
Total other (income) expenses, net		1,359			6,892			(2,465	)		(1,916	)		(1,325	)		1,186			(529	)
Income (loss) from continuing operations before income taxes		29,703			(1,980	)		10,597			2,061			(63,922	)		(53,244	)		(4,287	)
Income tax expense (benefit)		8,365			(1,402	)		2,701			258			(1,611	)		(54	)		(1,834	)
Income (loss) from continuing operations		21,338			(578	)		7,896			1,803			(62,311	)		(53,190	)		(2,453	)
Income from discontinued operations, net of taxes		21,510			5,947			2,151			965			11,350			20,413			638
Net Income (loss)		42,848			5,369			10,047			2,768			(50,961	)		(32,777	)		(1,815	)
Less: Net income attributable to noncontrolling interests		21,858			3,123			4,465			2,272			7,645			17,505			841
Net income (loss) attributable to MedCath Corporation	$	20,990		$	2,246		$	5,582		$	496		$	(58,606	)	$	(50,282	)	$	(2,656	)
Amounts attributable to MedCath Corporation common stockholders:
Income (loss) from continuing operations, net of taxes	$	9,727		$	(2,627	)	$	4,129		$	(65	)	$	(62,769	)	$	(61,331	)	$	(3,159	)
Income from discontinued operations, net of taxes		11,263			4,873			1,453			561			4,163			11,049			503
Net Income (loss)	$	20,990		$	2,246		$	5,582		$	496		$	(58,606	)	$	(50,282	)	$	(2,656	)
Earnings (loss) per share, basic
Income (loss) from continuing operations attributable to MedCath Corporation common stockholders	$	0.49		$	(0.14	)	$	0.21		$	(0.00	)	$	(3.18	)	$	(3.11	)	$	(0.16	)
Income from discontinued operations attributable to MedCath Corporation common stockholders		0.56			0.25			0.07			0.03			0.21			0.56			0.03
Earnings (loss) per share, basic	$	1.05		$	0.11		$	0.28		$	0.03		$	(2.97	)	$	(2.55	)	$	(0.13	)
Earnings (loss) per share, diluted
Income (loss) from continuing operations attributable to MedCath Corporation common stockholders	$	0.48		$	(0.14	)	$	0.21		$	(0.00	)	$	(3.18	)	$	(3.11	)	$	(0.16	)
Income from discontinued operations attributable to MedCath Corporation common stockholders		0.56			0.25			0.07			0.03			0.21			0.56			0.03
Earnings (loss) per share, diluted	$	1.04		$	0.11		$	0.28		$	0.03		$	(2.97	)	$	(2.55	)	$	(0.13	)
Weighted average number of shares, basic		19,996			19,599			19,664			19,733			19,740			19,684			19,743
Dilutive effect of stock options and restricted stock		73			—			26			—			—			—			—
Weighted average number of shares, diluted		20,069			19,599			19,690			19,733			19,740			19,684			19,743
Selected Operating Data (consolidated) (a):
Number of hospitals		6			6			6			6			6			6			7
Licensed beds (b)		451			451			451			530			530			530			600
Staffed and available beds (c)		406			405			404			484			444			444			514
Admissions (d)		26,047			6,033			6,275			5,639			5,744			23,592			6,165
Adjusted admissions (e)		34,540			8,189			8,839			8,594			8,482			34,097			8,793
Patient days (f)		94,821			22,243			24,860			22,795			21,355			91,168			22,892
Adjusted patient days (g)		125,343			30,599			35,012			34,803			31,561			131,675			33,429
Average length of stay (h)		3.64			3.69			3.96			4.04			3.72			3.86			3.71
Occupancy (i)		64.0	%		59.7	%		68.4	%		51.8	%		52.3	%		56.3	%		48.4	%
Inpatient catheterization procedures (j)		14,239			3,169			3,095			2,735			2,694			11,688			2,811
Inpatient surgical procedures (k)		7,415			1,740			1,846			1,809			1,770			7,162			1,721

(a)	Selected operating data includes consolidated hospitals in operation as of the end of the period reported in continuing operations but does not include hospitals which are accounted for using the equity method or as discontinued operations in our consolidated financial statements.
(b)	Licensed beds represent the number of beds for which the appropriate state agency licenses a facility regardless of whether the beds are actually available for patient use.
(c)	Staffed and available beds represent the number of beds that are readily available for patient use at the end of the period.
(d)	Admissions represent the number of patients admitted for inpatient treatment.
(e)	Adjusted admissions is a general measure of combined inpatient and outpatient volume. We computed adjusted admissions by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by admissions.
(f)	Patient days represent the total number of days of care provided to inpatients.
(g)	Adjusted patient days is a general measure of combined inpatient and outpatient volume. We computed adjusted patient days by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by patient days.
(h)	Average length of stay (days) represents the average number of days inpatients stay in our hospitals.
(i)	We computed occupancy by dividing patient days by the number of days in the period and then dividing the quotient by the number of staffed and available beds.
(j)	Inpatients with a catheterization procedure represent the number of inpatients with a procedure performed in one of the hospitals’ catheterization labs during the period.
(k)	Inpatient surgical procedures represent the number of surgical procedures performed on inpatients during the period.