US Oncology Reports First Quarter 20...( HOUSTON May 7 /- US Oncology Hold...),Health
HOUSTON, May 7 /PRNewswire/ -- US Oncology Holdings, Inc. ("Holdings" or the "Company"), the parent company of US Oncology, Inc. ("US Oncology"), one of the nation's largest cancer services companies, reported revenue of $810.6 million, Adjusted EBITDA of $52.1 million and operating cash flow of $50.9 million for the quarter ended March 31, 2008.
The results of Holdings include those of US Oncology, its wholly-owned subsidiary, through which all operations are conducted. The results of operations and financial position of Holdings are substantially identical to those of US Oncology, with the exception of nominal administrative expenses and items related to the capitalization of Holdings. For the quarter ended March 31, 2008, US Oncology reported Adjusted EBITDA of $52.2 million and operating cash flow of $50.9 million.
During the quarter ended March 31, 2008, the Company identified an
impairment of the carrying value of goodwill in its medical oncology
services segment (see additional discussion in "Impairment and
Restructuring Charges"). Although the amount of the impairment charge has
not been finalized, the non-cash charge is expected to range from $375
million to $409 million (the entire carrying value of goodwill related to
this segment). Because the amount of the charge has not been finalized,
this release excludes financial information that is subject to change. The
Company will include this information in its first quarter Form 10-Q to be
filed with the SEC on or before May 15, 2008.
US Oncology Holdings First Quarter Results
-- Adjusted EBITDA for the first quarter of 2008 was $52.1 million,
compared to $57.2 million for the first quarter of 2007 and
$58.0 million for the fourth quarter of 2007. The decrease from the
first quarter of 2007 reflects reduced utilization of supportive care
drugs as well as lower management fees in the medical oncology segment.
The decrease fr
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| SOURCE US Oncology Holdings, Inc. Copyright©2008 PR Newswire. All rights reserved |
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