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MedCath Provides Preliminary Second Quarter Fiscal 2008 Earnings and Updates Fiscal 2008 Outlook
Date:4/21/2008

CHARLOTTE, N.C., April 21 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH) announced today preliminary summary results for its second quarter of fiscal 2008, which ended March 31, 2008. In addition, MedCath announced a revised fiscal 2008 outlook. MedCath's preliminary earnings for the second quarter of fiscal 2008 and its revised outlook for fiscal 2008 account for Dayton Heart Hospital as an asset held for sale. MedCath announced on March 24, 2008 that it had entered into a definitive agreement to sell Dayton Heart Hospital.

MedCath anticipates that its net revenue for the second quarter of fiscal 2008 will be $156.7 to $157.3 million, its Adjusted EBITDA $23.4 to $24.0 million and its earnings from continuing operations $5.0 to $5.6 million or $0.25 to $0.28 per diluted share. During the quarter, MedCath incurred prior period cost report settlements which reduced preliminary net revenue and Adjusted EBITDA by $0.2 million and income from continuing operations by $0.1 million. Also during the second fiscal quarter, MedCath incurred $0.2 million, or $0.01 per diluted share, in share-based compensation expense and $0.3 million, or $0.02 per diluted share, in pre-opening expense related to its development project in Kingman, Arizona. Share-based compensation expense and pre-opening expense are excluded from preliminary Adjusted EBITDA but are included in preliminary income from continuing operations for the second quarter of fiscal 2008.

"The operating environment in our fiscal second quarter reflects a shift in product and payer mix that causes us to moderately recast our expectations," said O. Edwin French, MedCath's President and Chief Executive Officer. "Despite this, we are reinforced in our strategy and plea
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