RE:RE:Normalized Earnings Analysis of CRH MedicalThank you for the compliment. I used 30% because that is what mgmt guided to on the Q1 call (see below). But I went back to check my numbers myself. I had $2.9M in EBITDA non-controlling interest vs. $10.2M consolidated in the quarter, or 28%. In Q1, I had $3.3M in EBITDA of non-controlling interest vs. $11.0M consolidated, or 30%. Please let me know if I made a mistake here.
https://seekingalpha.com/article/4066923-crh-medicals-crhm-ceo-edward-wright-q1-2017-results-earnings-call-transcript?part=single
Richard Close
Okay. My final question would be as we think about the second quarter, adjusted EBITDA; I think the street is looking for a nice sequential increase in adjusted EBITDA, the comment. If you could just comment, do you have any – can you sort of give us a range in terms of where you expected the adjusted EBITDA to be in the second quarter?
Richard Bear
I think if you ran your models and looked at seasonality, you know that our seasonality in Q1 is low in terms of patients and also low in terms of revenue per case because we – although our government cases don’t vary much quarter-over-quarter, the commercial case is due with most with the highest percentage of commercial cases coming in the fourth quarter. So, commercial increases quarter-over-quarter, so will our revenue per case and which is driven by seasonality. So I think if you run out your models and you come up with your revenue, you come with your EBITDA expenses are pretty fixed because it’s primarily people. And you use the ratio of non-controlling interest to total EBITDA for Q1; you’ll get to your Q2 numbers. Sorry for non-financial people on the call.
Richard Close
So, you’re saying, use 30.1% in terms of non-controlling interest as the number for second quarter.
Richard Bear
Assuming that, yeah, with the base business and then whatever assumptions you had made for strategic planning.