-- 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|
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