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assessed for objective evidence of impairment at each balance sheet date. The Corporation recorded amortization and depreciation of $143,244 (2010 - $190,028) in the year ended December 31, 2011. The amortization expense decreased with the sale of the MEDIchair royalty in June 2011. 

$3.2 million of the accounts receivable balance of $3.44 million at December 31, 2011 related to a short term promissory note to KMH as a bridge to finance a portion of their acquisition the Corporation financed in October 2011. That note was repaid in full in February 2012. 

The Corporation recorded earnings of $34.7 million, EBITDA of $43.8 million and Normalized EBITDA of $16.1 million for the year ended December 31, 2011 compared to earnings of $7.4 million, EBITDA and Normalized EBITDA of $12.7 million for the year ended December 31, 2010. The increase in earnings, EBITDA and Normalized EBITDA can be attributed to the significant gains on the reduction of financial interest in LifeMark and the sale of the MEDIchair intangible assets. Earnings and EBITDA also increased due to the addition of new Partners in Solowave (Dec 2010), Killick (July 2011) and Quetico (Dec 2011). 

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For the year ending December 31, 2011, dividends were declared for January through November at $0.085 per common share; and for December it was increased to $0.095 per common share totalling $18,014,242 for the year. In the prior year, dividends were declared for totalling $12,628,487 for the prior year. 

## ThreeMonthsEndedDecember31,2011ComparedtoThreeMonthsEndedDecember31,2010 

Revenues for the three months ended December 31, 2011 reflect Distributions from transactions involving each of Alaris’ seven Partners for that period. In this period, revenues from the Partners totaled $5.8 million compared to $4.4 million in the three months ended December 31, 2010. The increase of 32.1% compared to the prior period is a result of new Partners added in the last twelve months as well as year over year performance metric adjustments from each of the Partners. Revenues from LifeMark were $1.69 million compared to $2.78 million in the same prior year period, a decrease of 42.9% due to the reduction of the Corporation’s interest in LifeMark on June 9, 2011. Revenues from LMS were $0.42 million in the period compared to $0.39 million in the prior year period, an increase of 9.4% due to the year over year performance adjustment based on the change in gross profit for LMS effective January 1, 2011. Revenues from End of the Roll were $0.28 million in the quarter compared to $0.32 million in the same prior year period, a decrease of 13.4% as a result of a same store sales decrease that was effective May 1, 2011. Distributions from KMH were $0.62 million in the period compared to $0.22 million in the same prior year period. The 182.5% increase due to a further investment into KMH of $22.4 million in October 2011. Distributions from Solowave were $1.25 million compared to only $0.21 million in the same prior year period since the distributions only commenced in mid-December 2010. Distributions from Killick commenced in July 2011 and were $1.08 million in the period. Distributions from Quetico commenced in November 2011 and were $0.45 million in the period. Revenues from MEDIchair were nil in the quarter 

