LifeCare Holdings, Inc. Announces Year-E...(2729 140 -94.9% Net loss ...),Health

Date:3/31/2009

2,729 140 -94.9% Net loss $(40,657) $(8,101) -80.1% Reconciliation to Credit Agreement EBITDA: Operating loss - per above $(37,682) $(7,961) Adjusted for: Gain on early extinguishment of debt - (9,526) Interest expense, net 9,445 9,648 Depreciation and amortization 2,570 2,989 Goodwill impairment charges 35,000 18,600 Loss attributable to unrestricted subsidiary 107 157 Stock compensation expense 169 84 Cost saving initiatives 445 173 Hospital closure/relocation/start-up losses 2,692 (1,580) Sarbanes Oxley implementation 366 - New Orleans operations (6) 472 Other credit agreement add-back items 127 533 Credit Agreement EBITDA $13,233 $13,589 Schedule 2 Condensed Consolidated Statements of Operations For the Years Ended December 31, 2007 and 2008 (In thousands) (Unaudited) % 2007 2008 Change Net patient service revenue $322,215 $351,971 9.2% Expenses: Salaries, wages and benefits 156,125 165,975 6.3% Supplies 33,460 35,522 6.2% Rent 21,644 25,579 18.2% Other operating expense 80,257 80,787 0.7% Provision for doubtful accounts 4,740 5,234 10.4% Depreciati
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SOURCE LifeCare Holdings, Inc. Copyright©2009 PR Newswire. All rights reserved

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