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US Oncology Reports 2009 Fourth Quarter and Year End Operating Results
Date:2/25/2010

--- --- $2.6 $2.9 $8.5 $384.9 ==== ==== ==== ======

During the fourth quarter of 2009, the Company determined that it would cease operations of ORS, its centralized billing and collection service and recognized restructuring charges of $2.3 million related to employee severance payments, vacating leased office space and impairment of certain fixed assets. During the fourth quarter of 2008 the Company recognized restructuring charges of $2.9 million related to employee severance and a settlement to terminate the lease on our former corporate headquarters.  

During 2009, the Company recorded an impairment and restructuring charge of $8.5 million which, in addition to the items previously discussed, also included severance related to certain corporate personnel. During 2008, the Company recognized $384.9 million in impairment and restructuring charges which relate primarily to a $380.0 million impairment charge of goodwill in the medical oncology services segment in the first quarter due to the Company's continued diversification, resulting in reduced dependencies on the medical oncology services segment as a source of earnings, and the impact of reduced utilization of ESAs.


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SOURCE US Oncology, Inc.
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