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Select Medical Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2007
Date:3/24/2008

(,000) $283,270 $217,175 (23.3)%

Adjusted EBITDA margin - all hospitals 20.5% 15.7% (23.4)%

Adjusted EBITDA margin - same store

hospitals (c) 21.8% 17.7% (18.8)%

Outpatient Rehabilitation

Number of clinics - end of period 544 999 83.6%

Net operating revenues (,000) $470,339 $603,413 28.3%

Number of visits 2,972,243 4,032,197 35.7%

Revenue per visit (d) $94 $100 6.4%

Adjusted EBITDA (,000) $64,823 $75,437 16.4%

Adjusted EBITDA margin 13.8% 12.5% (9.4)%

(a) Specialty hospitals consist of long-term acute care hospitals and

acute medical rehabilitation hospitals.

(b) Net revenue per patient day is calculated by dividing specialty

hospital patient service revenue by the total number of patient days.

(c) Adjusted EBITDA margin -- same store hospitals represents the Adjusted

EBITDA margin for those hospitals opened or acquired before January 1,

2006 and operated throughout both periods.

(d) Net revenue per visit is calculated by dividing outpatient

rehabilitation clinic revenue by the total number of visits. For

purposes of this computation, outpatient rehabilitation clinic revenue

does not include managed clinics or contract services revenue.

VI. Net Income to Adjusted EBITDA Reconciliation

(In thousands)

(unaudited)

For the Three Months and Year Ended December 31, 2006 and 2007

The following table reconciles net income to Adjusted EBITDA for

Select. Adjusted EBITDA is used by Select to report its segment

performance in accordance with SFAS No. 131. Adjusted EBITDA is defined as

net income before interest, incom
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SOURCE Select Medical Corporation
Copyright©2008 PR Newswire.
All rights reserved

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