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Select Medical Holdings Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2009
Date:2/18/2010

before interest, income taxes, depreciation and amortization, stock compensation expense, other expense, long-term incentive compensation, gain (loss) on early retirement of debt and non-controlling interest. We believe that the presentation of Adjusted EBITDA is important to investors because Adjusted EBITDA is used by management to evaluate financial performance and determine resource allocation for each of our operating units. Adjusted EBITDA is not a measure of financial performance under generally accepted accounting principles. Items excluded from Adjusted EBITDA are significant components in understanding and assessing financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Because Adjusted EBITDA is not a measurement determined in accordance with generally accepted accounting principles and is thus susceptible to varying calculations, Adjusted EBITDA as presented may not be comparable to other similarly titled measures of other companies. Three Months Ended Year Ended December 31, December 31, 2008 2009 2008 2009 ---- ---- ---- ---- Net income $8,811 $29,911 $22,441 $75,282 Non-controlling interest 1,290 1,388 3,393 3,606 Income tax expense 12,201 4,440 26,063 37,516 Other expense - 632 - 632 Interest expense, net 36,095
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SOURCE Select Medical Holdings Corporation
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