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Select Medical Corporation Announces Results for Second Quarter Ended June 30, 2009
Date:8/13/2009

MECHANICSBURG, Pa., Aug. 13 /PRNewswire/ -- Select Medical Corporation ("Select") today announced results for its second quarter ended June 30, 2009.

For the second quarter ended June 30, 2009, net operating revenues increased 3.8% to $559.5 million compared to $538.8 million for the same quarter, prior year. Income from operations increased 35.0% to $65.4 million compared to $48.4 million for the same quarter, prior year. Net income attributable to Select Medical Corporation increased to $25.5 million compared to $12.6 million for the same quarter, prior year. Additionally, net income before interest, income taxes, depreciation and amortization, gain on early retirement of debt, stock compensation expense, other income(expense) and non-controlling interest ("Adjusted EBITDA") for the second quarter increased 25.2% to $83.6 million compared to $66.8 million for the same quarter, prior year. A reconciliation of net income to Adjusted EBITDA is attached to this release.

For the six months ended June 30, 2009, net operating revenues increased 3.1% to $1,120.7 million compared to $1,087.1 million for the same period, prior year. Income from operations increased 29.4% to $133.0 million compared to $102.8 million for the same period, prior year. Net income attributable to Select Medical Corporation increased to $57.2 million compared to $24.2 million for the same period, prior year. Additionally, Adjusted EBITDA for the six months ended June 30, 2009 increased 21.5% to $169.3 million compared to $139.3 million for the same period, prior year.

Specialty Hospitals

At June 30, 2009, Select operated 87 long term acute care hospitals and five acute medical rehabilitation hospitals. This compares to 88 long term acute care hospitals and four acute medical rehabilitation hospitals operated at June 30, 2008. For the second quarter of 2009, net operating revenues for all
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SOURCE Select Medical Corporation
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