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Addus HomeCare Reports First Quarter 2010 Results

Friday, May 14, 2010 Corporate News J E 4
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Adjusted EBITDA (1) (Unaudited)

For the Three Months Ended March 31,

(Amounts in thousands)

2010

2009

Reconciliation of Adjusted EBITDA to Net Income:

Net income

$ 1,358

$ 1,365

Net interest expense

718

1,118

Income tax expense

616

643

Depreciation and amortization

946

1,220

Stock-based compensation expense

62

70

Adjusted EBITDA

$ 3,700

$ 4,416

(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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