The Ensign Group Reports Second Quarter 2009 Earnings of $0.39 per Share; Reaffirms 2009 EP...(20883 20883 ...),Health

Date:8/6/2009

20,883 20,883 ====== == ====== ====== === ====== (1) Represents acquisition related costs expensed during the first quarter under Statement of Financial Accounting Standards (SFAS) No. 141(R), Business Combinations, which were previously capitalizable under SFAS 141. (2) Represents amortization costs incurred during the three and six months ended June 30, 2009 related to patient base intangible assets acquired. Patient base intangible assets are amortized over a period of fits to eight months, depending on the classification of the patients and the level of occupancy in a new acquisition on the acquisition date. (3) Represent the tax impact of non-GAAP adjustments.

Discussion of Non-GAAP Financial Measures

EBITDA consists of net income before (a) interest expense, net, (b) provisions for income taxes, and (c) depreciation and amortization. EBITDAR consists of net income before (a) interest expense, net, (b) provisions for income taxes, (c) depreciation and amortization, and (d) facility rent-cost of services. The Company believes that the presentation of EBITDAR provides important supplemental information to management and investors to evaluate the Company's operating performance. The Company believes disclosure of adjusted non-GAAP net income and non-GAAP diluted earnings per share has economic substance because the excluded expenses are infrequent in nature and are variable in nature, or do not represent current cash expenditures. A material limitation associated with the use of these measures as compared to the GAAP measures of net income and diluted earnings per share is that they may not be comparable with the calculation of net income and diluted earnings per share for other companies in the Company's industry. These non-GAAP financial meas
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SOURCE The Ensign Group, Inc. Copyright©2009 PR Newswire. All rights reserved

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