SXC Health solutions announces record second quarter financi... ( 2009 guidance revised higher based ...)

SXC Health solutions announces record second quarter financial results

Date:8/6/2009

    2009 guidance revised higher based on solid year-to-date performance and
    positive outlook for the remainder of the year

LISLE, IL, Aug. 6 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), announces its financial results for the three- and six-month periods ended June 30, 2009. Financial references are in U.S. dollars unless otherwise indicated.

Q2 2009 Highlights
------------------

- Revenue was $320.8 million, compared to $227.8 million in Q2 fiscal
2008
- Gross profit was $47.2 million, compared to $29.8 million in Q2
fiscal 2008
- Adjusted EBITDA(1) was $23.7 million compared, to $9.6 million in Q2
fiscal 2008
- GAAP net income increased to $12.0 million, or $0.47 per share
(fully-diluted), compared to $3.3 million, or $0.14 per share (fully-
diluted), in Q2 fiscal 2008
- Non-GAAP adjusted earnings per share(1) (diluted), which excludes the
NMHC transaction-related amortization, was $0.53, compared to $0.21
in Q2 fiscal 2008
- Cash from operations was $19.8 million, compared to $9.0 million in
Q2 fiscal 2008
- Adjusted prescription claim volume(1) for the PBM segment was
8.9 million in Q2 fiscal 2009
- Gross margin per adjusted prescription for the PBM segment was
$3.88 in Q2 fiscal 2009
- Transaction processing volume for the HCIT segment was 98.8 million
in Q2 fiscal 2009
- Closed a multi-year, multi-million dollar agreement with Prime
Therapeutics LLC
- Awarded a contract to provide PBM technology solutions and services
for the Commonwealth of Virginia's Medicaid drug rebate program
- Subsequent to quarter-end, won a contract to provide PBM solu
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SOURCE SXC Health Solutions Corp.
Copyright©2009 PR Newswire.
All rights reserved
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