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Medco Delivers Record Fourth-Quarter and Full-Year 2011 Earnings
Date:2/21/2012

FRANKLIN LAKES, N.J., Feb. 21, 2012 /PRNewswire/ --

Fourth-Quarter 2011 Highlights:

  • Record GAAP diluted earnings per share (EPS) of $1.08 increased 22.7 percent; Diluted EPS of $1.14, excluding $43.6 million of expenses associated with the pending merger with Express Scripts, Inc., increased 29.5 percent over $0.88 in fourth-quarter 2010  
  • Record diluted EPS, excluding all intangible amortization and merger-related expenses, increased 26.3 percent to $1.25 from $0.99 in fourth-quarter 2010  
  • Total net revenues increased 12.2 percent to a record of nearly $19.0 billion, with service revenues up 18.3 percent to a record $413.6 million
  • Gross margin increased to a record $1.28 billion, representing a gross margin percentage of 6.7 percent
  • EBITDA (Earnings Before Interest and Other Income/Expense, Taxes, Depreciation and Amortization) increased 14.4 percent to a record $899.6 million and EBITDA per adjusted prescription increased 6.2 percent to $3.42 when excluding merger-related expenses
  • Mail-order prescriptions increased 9.0 percent to a record 30.4 million, with generic volumes increasing 14.9 percent to a record 20.1 million
  • Generic dispensing rate increased 2.5 percentage points to a record 74.7 percent
  • Specialty pharmacy revenues increased 28.3 percent to a record $3.8 billion, with an increase in operating income of 44.3 percent to a record $158.6 million

  • Full-Year 2011 Highlights:

  • Record GAAP diluted EPS of $3.62 increased 14.6 percent; Diluted EPS of $3.74, excluding $80.2 million of expenses associated with the pending merger with Express Scripts, Inc., increased 18.4 percent over $3.16 in 2010  
  • Record diluted EPS, excluding all intangible amortization and merger-related expenses, increased 17.5 percent to $4.17 from $3.55 in 2010  
  • Total net revenues increased 6.2 percent to a record $70.1 billion, with service revenues up 39.0 pe
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  • SOURCE Medco Health Solutions, Inc.
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