Exhibit 99.1
MEDCATH CORPORATION
SUPPLEMENTAL FINANCIAL DISCLOSURE
(Presenting Heart Hospital of Austin as a Discontinued Operation for Each Period Presented)
(In thousands)
(Unaudited)
SUPPLEMENTAL FINANCIAL DISCLOSURE
(Presenting Heart Hospital of Austin as a Discontinued Operation for Each Period Presented)
(In thousands)
(Unaudited)
The following table reflects net income from continuing and discontinued operations attributable to noncontrolling interest for all periods presented.
| 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 income attributable to noncontrolling interests: | ||||||||||||||||||||||||||||
| Net income from continuing operations attributable to noncontrolling interest | $ | 11,611 | $ | 2,049 | $ | 3,766 | $ | 1,868 | $ | 458 | $ | 8,141 | $ | 706 | ||||||||||||||
| Net income from discontinued operations attributable to noncontrolling interest | 10,247 | 1,074 | 699 | 404 | 7,187 | 9,364 | 135 | |||||||||||||||||||||
| Total net income attributable to noncontrolling interests | $ | 21,858 | $ | 3,123 | $ | 4,465 | $ | 2,272 | $ | 7,645 | $ | 17,505 | $ | 841 | ||||||||||||||
The following table reconciles the income (loss) from continuing operations, net of taxes attributable to MedCath Corporation’s common stockholders as derived directly from MedCath Corporation’s consolidated statement of operations, as furnished in Exhibit 99.2 filed with Form 8-K on February 17, 2010, to Adjusted EBITDA for all periods presented.
| 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 | ||||||||||||||||||||||
| Income (loss) from continuing operations, net of taxes | $ | 9,727 | $ | (2,627 | ) | $ | 4,129 | $ | (65 | ) | $ | (62,769 | ) | $ | (61,331 | ) | $ | (3,159 | ) | |||||||||
| Add: | ||||||||||||||||||||||||||||
| Income tax expense (benefit) | 8,365 | (1,402 | ) | 2,701 | 258 | (1,611 | ) | (54 | ) | (1,834 | ) | |||||||||||||||||
| Net income from continuing operations attributable to noncontrolling interest | 11,611 | 2,049 | 3,766 | 1,868 | 458 | 8,141 | 706 | |||||||||||||||||||||
| Equity in net earnings of unconsolidated affiliates | (7,891 | ) | (2,065 | ) | (2,714 | ) | (2,265 | ) | (2,013 | ) | (9,057 | ) | (1,516 | ) | ||||||||||||||
| Interest and other income | (2,011 | ) | (101 | ) | (73 | ) | (47 | ) | (9 | ) | (230 | ) | (71 | ) | ||||||||||||||
| Loss on early extinguishment of debt | — | 6,961 | (259 | ) | — | — | 6,702 | — | ||||||||||||||||||||
| Interest expense | 11,261 | 2,097 | 581 | 396 | 697 | 3,771 | 1,058 | |||||||||||||||||||||
| Impairment of goodwill | — | — | — | — | 60,174 | 60,174 | — | |||||||||||||||||||||
| Loss (gain) on disposal of property, equipment and other assets | 217 | 73 | 108 | (54 | ) | 137 | 264 | 96 | ||||||||||||||||||||
| Amortization | 32 | 8 | 8 | 8 | 867 | 891 | 8 | |||||||||||||||||||||
| Depreciation | 25,259 | 6,496 | 6,217 | 6,466 | 7,232 | 26,411 | 7,650 | |||||||||||||||||||||
| Pre-opening expenses | 786 | 207 | 380 | 754 | 2,222 | 3,563 | 866 | |||||||||||||||||||||
| Share-based compensation expense | 4,978 | 998 | 839 | 231 | 322 | 2,390 | 608 | |||||||||||||||||||||
| Adjusted EBITDA | $ | 62,334 | $ | 12,694 | $ | 15,683 | $ | 7,550 | $ | 5,707 | $ | 41,635 | $ | 4,412 | ||||||||||||||