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The Ensign Group, Inc. Reports Third Quarter 2008 Earnings; Reaffirms 2008 Guidance
Date:10/30/2008

of 2007. A discussion of the company's use of these non-GAAP financial measures is set forth below, and a reconciliation of net income to EBITDAR and EBITDA appears in the financial data portion of this release.

Year-to-date consolidated net income was $19.7 million compared to $14.3 million the year before, an overall improvement of 37.4%. Net cash from operations grew by more than 224% year-to-date, to $35.6 million.

Fully diluted net earnings per share was $0.33 for the quarter, compared to $0.21 per share in the prior year taking into account the effects of the November 2007 issuance of 4,000,000 additional shares at Ensign's initial public offering, and to $0.26 per share on a GAAP basis.

More complete information is contained in the Company's 10-Q, which was filed with the SEC today and can be viewed on the Company's website at http://www.ensigngroup.net.

2008 Guidance Reaffirmed

Management reaffirmed 2008 annual guidance, which was raised following the second quarter of 2008, projecting consolidated revenue of $463 million to $467 million for 2008, up from the previous range of $454 million to $458 million, and fully diluted net earnings per share for 2008 of $1.30 to $1.35, up from the previous range of $1.27 to $1.32. This guidance is based upon diluted weighted average common shares outstanding of 21,000,000 shares and assumes, among other things, no additional acquisitions or dispositions and a continued stable Medicare and Medicaid reimbursement environment.

Recent Highlights

During the quarter the company licensed, certified and opened the newly-completed 32-bed rehabilitation wing at Park Manor Rehabilitation Center, its outstanding skilled nursing and rehabilitation facility in Walla Walla, Washington. The new $3.2 million addition brings the total number of licensed and operating beds at Park Manor to 109, with 10 new private rooms and 11 new semi
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SOURCE The Ensign Group, Inc.
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