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Addus HomeCare Reports Third Quarter 2010 Results
Date:11/4/2010

k-based compensation expense. Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP. (2) Medicare admissions represents the aggregate number of new cases approved for Medicare services during a specified period. Adjusted EBITDA (1) (Unaudited)

For the Three Months
Ended September 30,For the Nine Months
Ended September 30,2010200920102009Reconciliation of Adjusted EBITDA to Net Income:Net income

$ 1,479$ 2,090$   4,491$   5,386Net interest expense

8551,0212,3233,189Income tax expense

4639351,9472,409Depreciation and amortization

1,0581,2342,9553,678Stock-based compensation expense

6970197212Adjusted EBITDA

$ 3,924$ 5,350$ 11,913$ 14,874(1) We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, and stock-based compensation expense. Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with generally accepted accounting principles in the United States (GAAP). It should not be considered in isolation or as a substitute for net income, operating income or any other measure of financial performance calculated in accordance with GAAP.
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SOURCE Addus HomeCare Corporation
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