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SXC Health solutions announces strong fourth quarter and year end financial results
Date:3/5/2009 

    -   Accretive acquisition of NMHC drives GAAP earnings per share growth
    -   Adjusted EBITDA $14.7 million in Q4 2008, up from $6.5 million in Q4
        2007

LISLE, IL, March 5 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), announces its financial results for the three- and twelve-month periods ended December 31, 2008. Financial references are in U.S. dollars unless otherwise indicated.

"2008 was a very rewarding year for SXC in which we delivered strong financial performance and built the platform to drive future growth," said Mark Thierer, President and CEO of SXC. "We made two strategic acquisitions, won substantial contracts in several target markets, added strong leadership in multiple areas of the business and grew the Company's reputation for technology innovation. In a challenging economic environment, our goal is to deliver revenue and earnings growth, and to continue our strategic push to redefine pharmacy benefit management as the industry's technology-enabled PBM. We believe we have the strategy, platform and people to deliver on these objectives in 2009."

    2008 Financial Highlights
    -------------------------
    -   Revenue was $862.9 million, compared to $93.2 million in fiscal 2007
    -   Gross profit was $115.5 million, compared to $53.6 million in fiscal
        2007
    -   Adjusted EBITDA(1) was $42.5 million compared, to $21.4 million in
        fiscal 2007
    -   GAAP net income increased to $15.1 million, or $0.65 per share
        (diluted), compared to $13.1 million, or $0.61 per share (diluted),
        in fiscal 2007
    -   Non-GAAP adjusted earnings per share(1) (diluted), which excludes the
        NMHC transaction-related amortization, was $0.89 for fiscal 2008 and
        $0.28 for Q4 2008
    - 
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SOURCE  SXC Health Solutions Corp.
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