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HealthSouth Reports Results for Fourth Quarter Ended December 31, 2007

third quarter.

-- Based on our current complement of hospitals and outpatient satellites,

we expect our 2008 consolidated net operating revenues to be in the

range of $1.80 billion to $1.85 billion.

-- Adjusted consolidated EBITDA is expected to be in the range of $320

million to $335 million.

Included in this projected 2008 adjusted consolidated EBITDA range is approximately $8 million of professional fees with a consulting firm associated with our TeamWorks initiative. TeamWorks is an operational initiative designed to identify best practices in a number of key areas and standardize those practices across all our hospitals. This expense will be included in our calculation of adjusted consolidated EBITDA in 2008 and is not expected to recur in 2009.

We expect our diluted loss per share available to common shareholders will be in the range of ($0.08) to $0.00 per share. However, there are two non- routine items included in this "as reported" range estimate.
-- In accordance with Financial Accounting Standards Board Statement

No. 144, Accounting for the Impairment or Disposal of Long-Lived

Assets, we will accelerate the depreciation of our corporate campus so

that the net book value of the corporate campus equals the estimated

net proceeds expected to be received on the sale transaction's closing

date. The year-over-year impact of this acceleration of depreciation

approximates $10 million. No similar charges are expected in 2009.

-- During 2008, we expect to incur approximately $25 million of

professional fees including legal fees related to our derivative

litigation and professional fees related to income tax consulting fees

and various projects surrounding our pursuit of our remaining income

tax refund claims. While no assurances can be provided that similar

costs will not be incurred in 2009, any am

SOURCE HealthSouth Corporation
Copyright©2008 PR Newswire.
All rights reserved

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