Reconciliations of Non-GAAP Financial Measures to GAAP Financial Measures

EX-99.2 3 dex992.htm RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES Reconciliations of Non-GAAP Financial Measures to GAAP Financial Measures

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
	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


	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

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



	March 31, 2007
Total Debt and capital lease obligations	$	6,334
Less:
Cash and cash equivalents		107,483

Net debt	$	(101,149	)

2Q 2006 EBITDA	$	18,171
3Q 2006 EBITDA		20,405
4Q 2006 EBITDA		21,944
1Q 2007 EBITDA		23,588

Last Twelve Months EBITDA	$	84,108

Net debt / LTM EBITDA		N/A