Team Finance LLC Announces Fiscal 2008 Financi...(December 31 December 31 ...),Health

Date:2/9/2009

December 31, December 31, 2008 2007 2008 2007 Net earnings (loss) $(5,396) $1,217 $44,666 $43,270 Loss from discontinued operations -- 77 -- 576 Interest expense, net 11,816 13,804 45,849 55,234 Provision (benefit) for income taxes (2,841) 1,148 31,044 27,703 Depreciation and amortization 4,722 3,868 17,281 14,823 EBITDA 8,301 20,114 138,840 141,606 Impairment of intangibles (a) 9,134 -- 9,134 -- Management fee and other expenses (b) 856 1,021 3,602 4,054 Gain on extinguishment of debt (c) (1,640) -- (1,640) -- Transaction cost (d) 581 -- 2,386 -- Restricted unit expense (e) 186 141 625 560 Insurance subsidiary interest income 301 537 3,341 2,867 Severance and other charges 208 1,292 1,549 3,693 Adjusted EBITDA* $17,927 $23,105 $157,837 $152,780 * Adjusted EBITDA totals include the effects of favorable (unfavorable) professional liability loss reserve adjustments associated with prior years of ($5,438) and $0 for the three months ended December 31, 2008 and 2007, respectively, and $34,927 and $32,089 for the years ended December 31, 2008 and 2007, respectively. (a) Includes impairment of goodwill (b) Reflects management sponsor fees and loss on disposal of assets. (c) Reflects the gain on the retirement of a portion of the 11.25% Senior Subordinated Notes, net of the write-off of deferred fi
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SOURCE Team Health Inc. Copyright©2009 PR Newswire. All rights reserved

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