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HealthSouth Reports Results for Fourth Quarter Ended December 31, 2008
Date:2/23/2009

Net Operating Revenues Increased 6.7% with Strong Same Store Discharge Growth

Continued Progress on Debt Reduction

BIRMINGHAM, Ala., Feb. 23 /PRNewswire-FirstCall/ -- HealthSouth Corporation (NYSE: HLS) today reported its results of operations for the fourth quarter ended December 31, 2008. The results showed consolidated net operating revenues of $463.8 million for the fourth quarter of 2008 compared to $434.5 million for the fourth quarter of 2007. This increase was driven by increased discharges quarter over quarter. Compared to the fourth quarter of 2007, consolidated net operating revenues increased by 6.7%. Diluted net income per share was $1.81 per share for the fourth quarter of 2008 compared to a loss of ($0.67) per share for the fourth quarter of 2007. On an adjusted basis, income (loss) from continuing operations was $0.24 per diluted share and ($0.01) per diluted share for the fourth quarters of 2008 and 2007, respectively (excludes amounts associated with government, class action, and related settlements, our loss on interest rate swap, and other non-recurring items; see attached supplemental information).

"The fourth quarter was another solid quarter for HealthSouth: same store discharges were up an impressive 9.7%; consolidated net operating revenues increased 6.7%; and adjusted earnings per share increased $0.25 per diluted share compared to the same period of last year," said Jay Grinney, President and Chief Executive Officer of HealthSouth. "We believe these results demonstrate the solid foundation and strength of HealthSouth's business model. We also believe our emphasis on providing high quality patient care and enhancing our balance sheet through continued debt repayment will position HealthSouth to achieve its previously targeted 15% to 20% EPS growth in 2009."

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SOURCE HealthSouth Corporation
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