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Express Scripts Reports First Quarter EPS of $0.86, up 23%
Date:4/29/2009

tions to EBITDA* from continuing operations. The Company believes net income is the most directly comparable measure calculated under Generally Accepted Accounting Principles. 3 Months Ended March 31, ------------ 2009 2008 ---- ---- Net income from continuing operations $214.7 $178.3 Income taxes 124.6 98.1 Depreciation and amortization 24.6 24.5 Interest expense, net 16.2 18.0 Undistributed loss from joint venture - 0.2 --- --- EBITDA from continuing operations 380.1 319.1 Total adjusted claims 124.1 129.6 EBITDA per adjusted claim $3.06 $2.46 *EBITDA is earnings before taxes, depreciation and amortization, net interest and other income (expense); or operating income plus depreciation and amortization. EBITDA is presented because it is a widely accepted indicator of a company's ability to service indebtedness and is frequently used to evaluate a company's performance. EBITDA, however, should not be considered as an alternative to net income, as a measure of operating performance, as an alternative to cash flow, as a measure of liquidity or as a substitute for any other measure computed in accordance with accounting principles generally accepted in the United States. In addition, our definition and calculation of EBITDA may not be comparable to that used by other companies. Table 3 Guidance Information Estimated
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SOURCE Express Scripts, Inc.
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