EX-99.1 2 g22160exv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
MEDCATH CORPORATION
SUPPLEMENTAL FINANCIAL DISCLOSURE
(Presenting Heart Hospital of Austin as a Discontinued Operation for Each Period Presented)
(In thousands)

(Unaudited)
The following table reflects net income from continuing and discontinued operations attributable to noncontrolling interest for all periods presented.
                                                         
    Fiscal Year                                     Fiscal Year        
    Ended     Quarter Ended     Quarter Ended     Quarter Ended     Quarter Ended     Ended     Quarter Ended  
    September 30,     December 31,     March 31,     June 30,     September 30,     September 30,     December 31,  
    2008     2008     2009     2009     2009     2009     2009  
Net income attributable to noncontrolling interests:
                                                       
Net income from continuing operations attributable to noncontrolling interest
  $ 11,611     $ 2,049     $ 3,766     $ 1,868     $ 458     $ 8,141     $ 706  
Net income from discontinued operations attributable to noncontrolling interest
    10,247       1,074       699       404       7,187       9,364       135  
 
                                         
Total net income attributable to noncontrolling interests
  $ 21,858     $ 3,123     $ 4,465     $ 2,272     $ 7,645     $ 17,505     $ 841  
 
                                         
The following table reconciles the income (loss) from continuing operations, net of taxes attributable to MedCath Corporation’s common stockholders as derived directly from MedCath Corporation’s consolidated statement of operations, as furnished in Exhibit 99.2 filed with Form 8-K on February 17, 2010, to Adjusted EBITDA for all periods presented.
                                                         
    Fiscal Year                                     Fiscal Year        
    Ended     Quarter Ended     Quarter Ended     Quarter Ended     Quarter Ended     Ended     Quarter Ended  
    September 30,     December 31,     March 31,     June 30,     September 30,     September 30,     December 31,  
    2008     2008     2009     2009     2009     2009     2009  
Income (loss) from continuing operations, net of taxes
  $ 9,727     $ (2,627 )   $ 4,129     $ (65 )   $ (62,769 )   $ (61,331 )   $ (3,159 )
Add:
                                                       
Income tax expense (benefit)
    8,365       (1,402 )     2,701       258       (1,611 )     (54 )     (1,834 )
Net income from continuing operations attributable to noncontrolling interest
    11,611       2,049       3,766       1,868       458       8,141       706  
Equity in net earnings of unconsolidated affiliates
    (7,891 )     (2,065 )     (2,714 )     (2,265 )     (2,013 )     (9,057 )     (1,516 )
Interest and other income
    (2,011 )     (101 )     (73 )     (47 )     (9 )     (230 )     (71 )
Loss on early extinguishment of debt
          6,961       (259 )                 6,702        
Interest expense
    11,261       2,097       581       396       697       3,771       1,058  
Impairment of goodwill
                            60,174       60,174        
Loss (gain) on disposal of property, equipment and other assets
    217       73       108       (54 )     137       264       96  
Amortization
    32       8       8       8       867       891       8  
Depreciation
    25,259       6,496       6,217       6,466       7,232       26,411       7,650  
Pre-opening expenses
    786       207       380       754       2,222       3,563       866  
Share-based compensation expense
    4,978       998       839       231       322       2,390       608  
 
                                         
Adjusted EBITDA
  $ 62,334     $ 12,694     $ 15,683     $ 7,550     $ 5,707     $ 41,635     $ 4,412