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Select Medical Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2007
Date:3/24/2008

lity;

-- the loss of key members of our management team could significantly

disrupt our operations;

-- the effect of claims asserted against us or lack of adequate available

insurance could subject us to substantial uninsured liabilities; and

-- the ability to obtain any necessary or desired waiver or amendment from

our existing lenders may be difficult due to the current uncertainty in

the credit markets.

I. Condensed Consolidated Statements of Operations

(In thousands)

(unaudited)

For the Three Months Ended December 31, 2006 and 2007

%

2006 2007 Change

Net operating revenues $445,742 $517,968 16.2%

Costs and expenses:

Cost of services 364,865 441,639 21.0%

General and administrative 10,003 7,016 (29.9)%

Bad debt expense 44 12,366 N/M

Depreciation and amortization 11,713 15,255 30.2%

Income from operations 59,117 41,692 (29.5)%

Other income (expense) 448 (1,946) N/M

Interest income 555 147 (73.5)%

Interest expense (24,673) (27,699) 12.3%

Income from continuing operations before

minority interests and income taxes 35,447 12,194 (65.6)%

Minority interests 319 164 (48.6)%

Income from continuing operations

before income taxes 35,128 12,030 (65.8)%

Income tax expense 4,811 829 (82.8)%

Income from continuing operations 30,317 11,201 (63.1)%

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SOURCE Select Medical Corporation
Copyright©2008 PR Newswire.
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