Select Medical Holdings Corporation Announces Results for Third Quarter Ended Septembe...(stock. Net income attributable to Selec...),Health

Date:11/5/2009

stock. Net income attributable to Select increased to $45.4 million compared to $13.6 million for the same period, prior year. Additionally, Adjusted EBITDA for the nine months ended September 30, 2009 increased 25.0% to $242.3 million compared to $193.8 million for the same period, prior year. Earnings per share were $0.37 on a fully diluted basis compared to a loss of $0.07 per common share for the same period, prior year.

On an adjusted basis, income available to common stockholders was $0.09 per diluted share for the third quarter ended September 30, 2009 and $0.42 per diluted share for the nine months ended September 30, 2009. Adjusted income available to common stockholders excludes non-recurring items relating to Select's initial public offering such as long term incentive compensation and stock compensation expense related to the grant of restricted stock; and gains related to the early retirement of debt. A reconciliation of net income per share to adjusted net income per share is attached to this release.

Specialty Hospitals

At September 30, 2009, Select operated 89 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 September 30, 2008. For the third quarter of 2009, net operating revenues for all of Select's hospitals increased 5.0% to $376.9 million compared to $358.8 million for the same quarter, prior year. Total patient days for the third quarter of 2009 were 248,504, admissions were 10,466 and net revenue per patient day was $1,489. This compares to 243,807 days, 9,977 admissions and net revenue per patient day of $1,446 for the same quarter, prior year. For the hospitals opened or acquired as of January 1, 2008 and operated by Select throughout both periods, patient days in the third quarter of 2009 were 231,509 and admissions were 9,710, compared to 234,112 days and
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SOURCE Select Medical Holdings Corporation Copyright©2009 PR Newswire. All rights reserved

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