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SXC Health solutions announces Strong fourth quarter and year end financial results
Date:3/4/2010

on">LISLE, IL, March 4 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") ( SXCI, TSX: SXC), announces its financial results for the three- and twelve-month periods ended December 31, 2009. Financial references are in U.S. dollars unless otherwise indicated.

    2009 Financial Highlights
    -------------------------
    -   Revenue was $1.4 billion in 2009 compared to $862.9 million in 2008
    -   Gross profit was $186.6 million in 2009 compared to $115.5 million in
        2008
    -   Adjusted EBITDA(1) was $94.7 million in 2009 compared to $42.5
        million in 2008
    -   GAAP net income increased to $46.1 million, or $1.72 per share
        (fully-diluted), in 2009 compared to $15.1 million, or $0.65 per
        share (fully-diluted), in 2008
    -   Non-GAAP adjusted earnings per share(1) (diluted), which excludes the
        NMHC transaction-related amortization net of tax, was $1.91 in 2009
        compared to $0.89 in 2008
    -   Cash from operations was $86.4 million in 2009 compared to $41.6
        million in 2008
    -   Adjusted prescription claim volume(1) for the PBM segment was 11.1
        million in Q4-2009 compared to 9.9 million in Q3-2009
    -   Gross margin per adjusted prescription for the PBM segment was $3.47
        in Q4-2009 compared to $3.35 in Q4-2008
    -   Mail order penetration increased to 11% in Q4-2009 compared to 9.5%
        in Q3-2009
    -   Transaction processing volume for the HCIT segment was 94.6 million
        in Q4-2009 compared to 92.0 million in Q3-2009

    2009 Corporate Highlights
    -------------------------

    -   Awarded new business with the Ohio Bureau of Workers' Compensation,
        the UFCW & Employers Benefit Trust, the Commonwealth of Virginia,
        Presbyterian Health Plan, Spectral Solutions, Prime Therapeutics LLC
        and PharMerica Corporation
    -   Renewed a multi-year PB
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SOURCE SXC Health Solutions Corp.
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