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 March 31, 2007 |
||||
| Net income |
$ | 13,265 | ||
| Add: |
||||
| Provision for Income Taxes |
8,445 | |||
| Interest expense, net |
(863 | ) | ||
| Depreciation and amortization |
2,741 | |||
| EBITDA1 |
$ | 23,588 | ||
| Three Months ended | Full Year 2006 | ||||||||||||||||
| March 31, 2006 | June 30, 2006 | September 30, 2006 | December 31, 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 | |||||||
| Three Months ended | Full Year 2005 | ||||||||||||||||
| March 31, 2005 | June 30, 2005 | September 30, 2005 | December 31, 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 | |||||||
| 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. |