Universal Hospital Services Reports 2017 Full Year Results
Total revenues for the twelve months ended
Adjusted EBITDA for the twelve months ended
UHS will hold a conference call to discuss 2017 full year results on
To participate, call (855) 539-7565 and advise the operator that you would like to join the
UHS will also use a slide presentation to facilitate the conference call discussion. A copy of the presentation may be obtained via the company’s website at www.uhs.com. Select “Investors” then “Presentations.”
Adjusted EBITDA Reconciliation
Adjusted EBITDA is defined by UHS as Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), and excludes non-cash share-based compensation expense, management, board and other non-recurring gain, expenses, or loss, which may not be calculated consistently among other companies applying similar reporting measures. EBITDA and Adjusted EBITDA are not intended to represent an alternative to operating income or cash flows from operating, financing or investing activities (as determined in accordance with generally accepted accounting principles (“GAAP”)) as a measure of performance, and are not representative of funds available for discretionary use due to UHS' financing obligations. EBITDA is included because it is a widely accepted financial indicator used by certain investors and financial analysts to assess and compare companies and is an integral part of UHS’ debt covenant calculations. Adjusted EBITDA is included because UHS’ financial guidance and certain compensation plans are based upon this measure. Management believes that Adjusted EBITDA provides an important perspective on the company's ability to service its long-term obligations, the company’s ability to fund continuing growth, and the company’s ability to continue as a going concern. A reconciliation of consolidated net income (loss) to EBITDA and Adjusted EBITDA is included below.
(In millions) | December YTD | |||||||
2017 |
2016 |
|||||||
Net income (loss) attributable to UHS | $ | 8.8 | $ | (13.8 | ) | |||
Interest expense | 53.0 | 52.3 | ||||||
Provision for income taxes | (17.2 | ) | 0.9 | |||||
Depreciation and amortization | 80.2 | 84.4 | ||||||
EBITDA | 124.9 | 123.8 | ||||||
Gain on Settlement | - | (3.1 | ) | |||||
Management, board & other | 9.1 | 5.1 | ||||||
Stock expense | 3.0 | 3.1 | ||||||
Adjusted EBITDA | $ | 137.0 | $ | 128.9 | ||||
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