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Medco Delivers First-Quarter 2009 GAAP Diluted EPS of $0.58; Diluted EPS Excluding Amortization of Intangible Assets of $0.63; Reaffirms 2009 EPS Guidance; Announces Win of Coventry Commercial Business Starting January 1, 2010

First-Quarter 2009 Highlights:

- GAAP diluted EPS increased 16.0 percent to $0.58 from $0.50 in first-quarter 2008

- Diluted EPS, excluding $0.05 in amortization of intangible assets from the 2003 spin-off, increased 14.5 percent to $0.63 from $0.55 in first-quarter 2008

- Total net revenues increased 14.4 percent to a record $14.8 billion

- Specialty pharmacy revenues increased 21.0 percent to a record $2.3 billion

- Generic dispensing rate increased 3.5 percentage points to a record 66.8 percent

- Cash flow from operations increased 7-fold to a record of nearly $1.2 billion

2009 Guidance Reaffirmed:

- Full-year 2009 GAAP diluted EPS expected in the range of $2.45 to $2.55, representing 15 to 20 percent growth over 2008

- Full-year 2009 diluted EPS, excluding amortization of intangible assets, expected in the range of $2.67 to $2.77, representing 15 to 19 percent growth over 2008

FRANKLIN LAKES, N.J., April 29 /PRNewswire-FirstCall/ -- Medco Health Solutions, Inc. (NYSE: MHS) today reported first-quarter 2009 GAAP diluted earnings per share of $0.58, up 16.0 percent compared to $0.50 for the first quarter of 2008. Adjusting for the amortization of intangible assets that existed when Medco became a publicly traded company in 2003, first-quarter 2009 diluted earnings per share increased 14.5 percent to $0.63, from $0.55 in the first quarter of 2008. With continuing strength across its operations and confident in its continued ability to deliver value-driven solutions to its clients in a weakened economy, Medco reaffirmed its 2009 earnings guidance, projecting GAAP diluted EPS growth of 15 to 20 percent over 2008.

"Our solid first-quarter results reflect our success at growing our t

SOURCE Medco Health Solutions, Inc.
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