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SXC Health solutions announces strong first quarter financial results
Date:5/7/2009

    -   Company revises 2009 guidance higher as positive momentum from 2008
        continues into 2009

LISLE, IL, May 7 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), announces its financial results for the three-month period ended March 31, 2009. Financial references are in U.S. dollars unless otherwise indicated.

    Q1 2009 Financial Highlights
    ----------------------------
    -   Revenue was $291.0 million, compared to $24.3 million in Q1 fiscal
        2008
    -   Gross profit was $39.2 million, compared to $13.5 million in Q1
        fiscal 2008
    -   Adjusted EBITDA(1) was $16.3 million compared, to $6.3 million in Q1
        fiscal 2008
    -   GAAP net income increased to $7.7 million, or $0.31 per share
        (diluted), compared to $3.4 million, or $0.16 per share (diluted), in
        Q1 fiscal 2008
    -   Non-GAAP adjusted earnings per share(1) (diluted), which excludes the
        NMHC transaction-related amortization, was $0.38 for Q1 fiscal 2009
    -   Cash from operations was $11.8 million, compared to $8.0 million in
        Q1 fiscal 2008
    -   Adjusted prescription claim volume(1) for the PBM segment was 8.4
        million in Q1 2009
    -   Gross margin per adjusted prescription for the PBM segment was $3.43
        in Q1 2009
    -   Transaction processing volume for the HCIT segment was 96.8 million
        in Q1 2009

    Q1 2009 Operational Highlights
    ------------------------------
    -   Won three-year, multi-million dollar contract to provide Resident
        Care Management technology and services to PharMerica Corporation
    -   Awarded a three-year contract, valued at approximately $80 million
        annually, to provide PBM services to the 110,000 members of the UFCW
        & Empl
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SOURCE SXC Health Solutions Corp.
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