Exhibit 99.2
Amedisys, Inc.
Reconciliation of Non-GAAP Financial Measurements to GAAP Financial Statements
(In thousands)
For the three-month periods ended | For the nine-month period ended | ||||||||||||||||||
March 31, 2007 | June 30, 2007 | September 30, 2007 | September 30, 2007 | ||||||||||||||||
Net income | $ | 13,265 | $ | 14,917 | $ | 20,216 | $ | 48,398 | |||||||||||
Less: | |||||||||||||||||||
Alliance (1) | (4,212 | ) | (4,212 | ) | |||||||||||||||
Add: | |||||||||||||||||||
Provision for Income Taxes | 8,445 | 9,347 | 10,391 | 28,183 | |||||||||||||||
Interest expense, net | (863 | ) | (1,025 | ) | (756 | ) | (2,644 | ) | |||||||||||
Depreciation and amortization | 2,741 | 3,030 | 3,853 | 9,624 | |||||||||||||||
Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) (2) | $ | 23,588 | $ | 26,269 | $ | 29,492 | $ | 79,349 | |||||||||||
For the three-month periods ended | For the twelve-month period ended | ||||||||||||||||||
March 31, 2006 | June 30, 2006 | September 30, 2006 | December 31, 2006 | December 31, 2006 | |||||||||||||||
Net income | $ | 7,284 | $ | 9,053 | $ | 10,559 | $ | 11,359 | $ | 38,255 | |||||||||
Add: | |||||||||||||||||||
Provision for Income Taxes | 4,618 | 5,739 | 6,695 | 6,590 | 23,642 | ||||||||||||||
Interest expense, net | 918 | 902 | 664 | 1,226 | 3,710 | ||||||||||||||
Depreciation and amortization | 2,373 | 2,477 | 2,487 | 2,769 | 10,106 | ||||||||||||||
EBITDA (2) | $ | 15,193 | $ | 18,171 | $ | 20,405 | $ | 21,944 | $ | 75,713 | |||||||||
For the twelve-month period ended | |||||||||||||||||||
December 31, 2005 | |||||||||||||||||||
Net income | $ | 30,102 | |||||||||||||||||
Add: | |||||||||||||||||||
Provision for Income Taxes | 18,638 | ||||||||||||||||||
Interest expense, net | 1,468 | ||||||||||||||||||
Depreciation and amortization | 6,973 | ||||||||||||||||||
EBITDA (2) | $ | 57,181 | |||||||||||||||||
(1) | Alliance Home Health, Inc. (“Alliance”), a wholly owned subsidiary of the Company filed for Chapter 7 federal bankruptcy protection in September 2000. That case is now concluded. As a result, the remaining $4.2 million liabilities of Alliance were extinguished and the Company is not liable for any of these obligations. The discharge of the liabilities was a non-taxable event. |
(2) | EBITDA is defined as net income before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP measure in the same manner. |