Express Scripts Reports Second Quart... ( ST. LOUIS Aug. 7 2012 /- Express...)

Express Scripts Reports Second Quarter Results

Date:8/7/2012

ST. LOUIS, Aug. 7, 2012 /PRNewswire/ -- Express Scripts (Nasdaq: ESRX) announced 2012 second quarter net income of $170.9 million, or $0.21 per diluted share. Adjusted earnings per share, as detailed in Table 4 were $0.88 per diluted share for the second quarter.

"Our strong second quarter results, the first as a combined organization, demonstrate the continued execution of our business model of alignment," stated George Paz, chairman and chief executive officer. "We are fully underway with the integration process and will continue to focus on lowering healthcare costs while improving health outcomes. As a result of our steadfast commitment to providing exemplary service and innovative offerings to clients and patients, we are experiencing strong retention rates."

Second Quarter 2012 Review (Data reflected on an adjusted basis. See Tables 2 and 3)All key metrics compared to 2011 were affected by the inclusion of Medco results beginning in the second quarter of 2012. Gross profit margin and EBITDA per adjusted claim increases over last year are mainly attributed to improved operating performance, including increased generic utilization.

Adjusted claims of 404.3 million, up 118% from second quarter 2011

Gross profit of $2.2 billion, up 165% from second quarter 2011

Gross profit margin of 7.8% up from 7.1% in second quarter 2011

EBITDA of $1.5 billion, up 132% from second quarter 2011

EBITDA per adjusted claim of $3.69, up 7% from second quarter 2011

Cash flow from operations of $0.7 billion, up 58% from second quarter 2011

Integration and Other Highlights

The destination operating platform was selected and the first tier of member lives was successfully transitioned.

The Company signed a new multi-year pharmacy network agreement with Walgreens.

SOURCE Express Scripts
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