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ENSG > SEC Filings for ENSG > Form 8-K on 9-Nov-2012All Recent SEC Filings

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Form 8-K for ENSIGN GROUP, INC


9-Nov-2012

Results of Operations and Financial Condition, Financial Statements and Exhibit


Item 2.02. Results of Operations and Financial Condition.
On November 7, 2012, The Ensign Group, Inc. (the "Company") issued a press release reporting the financial results of the Company for its third quarter ended September 30, 2012. A copy of the press release is attached to this Current Report as Exhibit 99.1.
The press release includes "non-GAAP financial measures." Specifically, the press release refers to EBITDA and EBITDAR. EBITDA and EBITDAR are supplemental non-GAAP financial measures. Regulation G, Conditions for Use of Non-GAAP Financial Measures , and other provisions of the Securities Exchange Act of 1934, as amended, define and prescribe the conditions for use of certain non-GAAP financial information. EBITDA consists of net income adjusted for net losses attributable to noncontrolling interest, before (a) interest expense, net, (b) provisions for income taxes, and (c) depreciation and amortization. EBITDAR consists of net income before net losses attributable to noncontrolling interest before (a) interest expense, net, (b) provisions for income taxes,
(c) depreciation and amortization, and (d) facility rent-cost of services. The Company believes that the presentation of EBITDA and EBITDAR provides important supplemental information to management and investors to evaluate the Company's operating performance. The Company believes disclosure of adjusted non-GAAP net income and non-GAAP diluted earnings per share has economic substance because the excluded expenses are infrequent in nature and are variable in nature, or do not represent current cash expenditures. A material limitation associated with the use of these measures as compared to the GAAP measures of net income and diluted earnings per share is that they may not be comparable with the calculation of net income and diluted earnings per share for other companies in the Company's industry. These non-GAAP financial measures should not be relied upon to the exclusion of GAAP financial measures. For further information regarding why the Company believes that this non-GAAP measure provides useful information to investors, the specific manner in which management uses this measure, and some of the limitations associated with the use of this measure, please refer to the Company's Report on Form 10-Q filed November 7, 2012 with the SEC. The Form 10-Q is available on the SEC's website at www.sec.gov or under the "Financial Information" link of the Investor Relations section on Ensign's website at http://www.ensigngroup.net.




Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.

Exhibit No. Description

99.1 Press Release of the Company dated November 7, 2012


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