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Select Medical Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2008
Date:3/23/2009

ons (In thousands) (unaudited) For the Three Months Ended December 31, 2007 and 2008 % 2007 2008 Change Net operating revenues $517,968 $547,099 5.6% Costs and expenses: Cost of services 441,639 448,819 1.6% General and administrative 7,016 9,680 38.0% Bad debt expense 12,366 12,504 1.1% Depreciation and amortization 15,255 18,611 22.0% Income from operations 41,692 57,485 37.9% Gain on early retirement of debt - 912 N/M Other expense (1,946) (1,622) (16.6)% Interest income 147 196 33.3% Interest expense (27,699) (27,461) (0.9)% Income from operations before minority interests and income taxes 12,194 29,510 142.0% Minority interests 164 1,290 N/M Income from operations before income taxes 12,030 28,220 134.6% Income tax expense 829 14,724 N/M Net income $11,201 $13,496 20.5% N/M = Not Meaningful

    II.  Condensed Consolidated Statements of Operations
         (In thousands)
         (unaudited)
          For the Year Ended December 31, 2007 and 2008

                                                                     %
                                               2007        2008    Change
    Net operating revenues               $1,991,666  $2,153
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SOURCE Select Medical Corporation
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