NMHC Reports Fourth Quarter and Fiscal Year 2007 Financi...( PORT WASHINGTON N.Y. Sept. 10 /- ...),Health

PORT WASHINGTON, N.Y., Sept. 10 /PRNewswire-FirstCall/ -- National Medical Health Card Systems, Inc. (Nasdaq: NMHC), a national independent pharmacy benefit manager ("PBM"), today reported its results for the fiscal fourth quarter and fiscal year ended June 30, 2007.

Three months ended June 30, 2007

Revenue for the 2007 fiscal fourth quarter was $146.0 million, as compared to revenue of $211.5 million for the same period last year, a 31.0 percent decrease. This decrease is primarily attributable to a decrease in covered lives as compared to last year resulting from the loss of various customers.

For the 2007 fiscal fourth quarter, gross profit was $21.1 million, as compared to $21.7 million for the same period last year, reflecting a decrease of 2.8 percent. The decrease in gross profit is primarily attributable to a $1.0 million reduction from the PBM segment, offset by a $424,000 increase in the Specialty Pharmacy segment. Primarily related to a change in customer mix, gross profit as a percentage of revenue, or gross margin, increased to 14.5 percent for the 2007 fiscal fourth quarter, as compared to 10.3 percent for the same period last year. Adjusted prescriptions for the 2007 fiscal fourth quarter were 5.3 million, as compared to 7.5 million for the same period last year. Gross profit per adjusted prescriptions increased to $3.98 from $2.89 for the same period last year. Adjusted prescription volume equals our Mail Service prescriptions multiplied by three, plus our retail prescriptions. These Mail Service prescriptions are multiplied by three to adjust for the fact that they typically include approximately three times the amount of product days supplied compared with retail prescriptions.