Reconciliations of Non-GAAP Financial Measuerments to GAAP Financial Statements

EX-99.2 3 dex992.htm RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUERMENTS TO GAAP FINANCIAL STATEMENTS Reconciliations of Non-GAAP Financial Measuerments to GAAP Financial Statements

Exhibit 99.2

Amedisys, Inc.

Reconciliation of Non-GAAP Financial Measurements to GAAP Financial Statements

(In thousands)


	Full Year
	2006			2005			2004			2003
Net income	$	38,255		$	30,102		$	20,504		$	8,407

Add:
Provision for Income Taxes		23,642			18,638			12,855			5,220

Interest expense, net		3,710			1,468			(40	)		1,202

Depreciation and amortization		10,106			6,973			4,126			3,072

Earnings before interest, taxes, depreciation, and amortization ("EBITDA")¹	$	75,713		$	57,181		$	37,445		$	17,901



	Three Months ended											Full Year
	March 31, 2005			June 30, 2005			September 30, 2005			December 31, 2005		2005
Net income	$	7,110		$	7,930		$	7,760		$	7,302	$	30,102

Add:
Provision for Income Taxes		4,623			5,156			5,045			3,814		18,638

Interest expense, net		(236	)		(377	)		1,297			784		1,468

Depreciation and amortization		1,332			1,530			2,122			1,989		6,973

EBITDA¹	$	12,829		$	14,239		$	16,224		$	13,889	$	57,181



	Three Months ended											Full Year
	March 31, 2006			June 30, 2006			September 30, 2006			December 31, 2006		2006
Net income	$	7,284		$	9,053		$	10,559		$	11,359	$	38,255

Add:
Provision for Income Taxes		4,618			5,739			6,695			6,590		23,642

Interest expense, net		918			902			664			1,226		3,710

Depreciation and amortization		2,373			2,477			2,487			2,769		10,106

EBITDA¹	$	15,193		$	18,171		$	20,405		$	21,944	$	75,713

¹ Earnings before interest, taxes, depreciation, and amortization ("EBITDA") is defined as net income before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. Rather, EBITDA is presented because it is a widely accepted supplemental financial measure that the Company believes provides relevant and useful information. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP measure in the same manner.

Amedisys, Inc.

Reconciliation of Non-GAAP Financial Measurements to GAAP Financial Statements

(In thousands)

Net debt / LTM EBITDA


	December 31, 2006
Total Debt and capital lease obligations	$	5,337

Less:
Cash and cash equivalents		84,221


Net debt	$	(78,884	)


1Q 2006 EBITDA	$	15,193
2Q 2006 EBITDA		18,171
3Q 2006 EBITDA		20,405
4Q 2006 EBITDA		21,944


Last Twelve Months EBITDA	$	75,713


Net debt / LTM EBITDA		N/A