Medcath Corp - Current report filing (8-K)
August 07 2008 - 8:01AM
Edgar (US Regulatory)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Date of Report (Date of earliest event reported): August 7, 2008
MEDCATH CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction of
incorporation or organization)
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000-33009
(Commission File Number)
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56-2248952
(IRS Employer Identification No.)
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10720 Sikes Place
Charlotte, North Carolina 28277
(Address of principal executive offices, including zip code)
(704) 708-6600
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13d-4(c))
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Item 2.02.
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Results of Operations and Financial Condition
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On August 7, 2008, MedCath Corporation (MedCath) issued a press release announcing the Companys
results of operations for the fiscal quarter ended June 30, 2008. A copy of the press release is
furnished as Exhibit 99.1.
Included in the press release and the supplemental financial information issued by the Company and
furnished herewith as Exhibits 99.1 and 99.2, are certain non-GAAP financial measures, including
Adjusted EBITDA. Adjusted EBITDA represents MedCaths income from continuing operations before
interest expense; loss on early extinguishment of debt; income tax expense; depreciation;
amortization; impairment of long-lived assets; share-based compensation expense; loss (gain) on
disposal of property, equipment and other assets; interest and other income, net; equity in net
earnings of unconsolidated affiliates; minority interest share of earnings of consolidated
subsidiaries; and pre-opening expenses. MedCaths management uses Adjusted EBITDA to measure the
performance of the companys various operating entities, to compare actual results to historical
and budgeted results, and to make capital allocation decisions. Management provides Adjusted
EBITDA to investors to assist them in performing their analyses of MedCaths historical operating
results. Further, management believes that many investors in MedCath also invest in, or have
knowledge of, other healthcare companies that use Adjusted EBITDA as a financial performance
measure. Because Adjusted EBITDA is a non-GAAP measure, Adjusted EBITDA, as defined above, may not
be comparable to other similarly titled measures of other companies. MedCath has included a
supplemental schedule with the financial statements that accompanies this press release that
reconciles historical Adjusted EBITDA to MedCaths income from continuing operations.
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Item 9.01.
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Financial Statements and Exhibits
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Exhibit 99.1
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Press Release dated August 7, 2008
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Exhibit 99.2
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Financial Update dated August 7, 2008
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The exhibits set forth under this Item 9.01 that are being furnished under Item 2.02 shall not be
deemed filed for purpose of Section 18 of the Securities Exchange Act of 1934, as amended, nor
shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MEDCATH CORPORATION
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Date: August 7, 2008
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By:
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/s/ Jeffrey L. Hinton
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Jeffrey L. Hinton
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Executive Vice President and Chief Financial Officer
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