NightHawk Radiology Holdings, Inc. Announces Fourth Quarter and Full-Year 2007 Results; Updates 200...($14693846 $(28518651) Interest expe...),Health

Interest expense

(income) 1,558,583 (999,291) 2,755,176 (2,465,696)

Income tax expense 1,504,757 1,452,181 8,615,352 10,047,713

Depreciation and

amortization 2,648,449 618,275 7,899,256 2,198,714

EBITDA 8,772,139 3,278,133 33,963,630 (18,737,920)

Stock compensation

expense 5,620,535 1,966,191 15,030,362 5,960,133

IBNR reserve (410,924) 2,000,000 1,038,000 2,000,000

One time legal cost 477,862 477,862

Change in fair

value of redeemable

preferred stock

conversion feature 44,183,770

Redeemable

preferred stock

accretion 117,534

Adjusted EBITDA $14,459,612 $7,244,324 $50,509,854 $33,523,517

NIGHTHAWK RADIOLOGY HOLDINGS, INC. AND SUBSIDIARIES

HISTORICAL VOLUMES

Growth Rates Acquisition Contribution -

Total Year First 12 months

Quarter Year Volumes Sequential over Year DayHawk ATN TDS Radlinx

Q1 2004 120,554 36% 210% - - - -

Q2 2004 152,640 27% 178% - - - -

Q3 2004 182,737 20% 133% - - - -

Q4 2004 193,883 6% 119% 8,316 - - -

FY 2004 649,814 149% 149%

Q1 2005 222,341 15% 84% 15,850 - - -

Q2 2005 266,023 20% 74% 17,355 - - -

Q3 2005 298,759 12% 63% 18,905 - - -

Q4 2005 328,815 10% 70% 8,48
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