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Select Medical Holdings Corporation Announces Results for Third Quarter Ended September 30, 2009
Date:11/5/2009

MECHANICSBURG, Pa., Nov. 5 /PRNewswire-FirstCall/ -- Select Medical Holdings Corporation ("Select") (NYSE: SEM), the parent of Select Medical Corporation, today announced results for its third quarter ended September 30, 2009.

For the third quarter ended September 30, 2009, net operating revenues increased 5.1% to $545.6 million compared to $519.2 million for the same quarter, prior year. Income from operations decreased 9.0% to $32.9 million compared to $36.2 million for the same quarter, prior year. Income from operations for the third quarter ended September 30, 2009 includes compensation costs of $22.0 million Select incurred associated with its initial public offering of common stock. Net income attributable to Select increased to $0.6 million compared to a loss of $0.8 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, long term incentive compensation and non-controlling interest ("Adjusted EBITDA") for the third quarter increased 34.0% to $73.0 million compared to $54.5 million for the same quarter, prior year. A reconciliation of net income to Adjusted EBITDA is attached to this release. Loss per common share was $0.09 on a fully diluted basis compared to a loss of $0.11 per common share for the same quarter prior year.

For the nine months ended September 30, 2009, net operating revenues increased 3.7% to $1,666.3 million compared to $1,606.3 million for the same period, prior year. Income from operations increased 19.4% to $165.9 million compared to $138.9 million for the same period, prior year. Income from operations for the nine months ended September 30, 2009 includes compensation costs of $22.0 million Select incurred associated with its initial public offering of common
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SOURCE Select Medical Holdings Corporation
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