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Select Medical Corp (1035688) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Select Medical Corp

CIK: 1035688

Exhibit 99.1

 

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FOR IMMEDIATE RELEASE

4714 Gettysburg Road

Mechanicsburg, PA 17055

 

 

 

NYSE Symbol:  SEM

 

Select Medical Holdings Corporation Announces Results

For Its Third Quarter Ended September 30, 2018

 

MECHANICSBURG, PENNSYLVANIA — November 1, 2018 — Select Medical Holdings Corporation (“Select Medical”) (NYSE: SEM) today announced results for its third quarter ended September 30, 2018.

 

For the third quarter ended September 30, 2018, net operating revenues increased 17.7% to $1,267.4 million, compared to $1,077.0 million for the same quarter, prior year. Income from operations increased 38.5% to $99.8 million for the third quarter ended September 30, 2018, compared to $72.1 million for the same quarter, prior year. Net income increased 71.9% to $42.7 million for the third quarter ended September 30, 2018, compared to $24.8 million for the same quarter, prior year. Net income for the third quarter ended September 30, 2018 included a pre-tax non-operating gain of $2.1 million. Adjusted EBITDA increased 35.2% to $156.6 million for the third quarter ended September 30, 2018, compared to $115.8 million for the same quarter, prior year. Income per common share increased to $0.24 on a fully diluted basis for the third quarter ended September 30, 2018, compared to $0.14 for the same quarter, prior year. Adjusted income per common share was $0.23 per diluted share for the third quarter ended September 30, 2018, compared to $0.14 for the same quarter, prior year. Adjusted income per common share excludes the non-operating gain and its related tax effects for the third quarter ended September 30, 2018. The definition of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA are presented in table VIII of this release. A reconciliation of income per common share to adjusted income per common share is presented in table IX of this release.

 


The following information was filed by Select Medical Corp on Thursday, November 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Select Medical Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Equity And Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounting Policies
Accounting Policies (Details)
Accounting Policies (Policies)
Accounting Policies (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Pro Forma Results (Details)
Acquisitions - U.S. Healthworks Acquisition (Details)
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies - Litigation (Details)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (Tables)
Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Details)
Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Cash Flows (Details)
Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Operations (Details)
Condensed Consolidating Financial Information - Narrative (Details)
Income Per Common Share
Income Per Common Share (Details)
Income Per Common Share (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Carrying Amount Of Goodwill (Details)
Intangible Assets - Carrying Value And Amortization Of Identifiable Intangible Assets And Liabilities (Details)
Long-Term Debt And Notes Payable
Long-Term Debt And Notes Payable (Tables)
Long-Term Debt And Notes Payable - Components Of Long-Term Debt And Notes Payable (Details)
Long-Term Debt And Notes Payable - Concentra Credit Facilities (Details)
Long-Term Debt And Notes Payable - Fair Value (Details)
Long-Term Debt And Notes Payable - Loss On Early Retirement Of Debt (Details)
Long-Term Debt And Notes Payable - Principal Maturities Of Long-Term Debt (Details)
Long-Term Debt And Notes Payable - Select Credit Facilities (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Reconciliation Of Adjusted Ebitda To Income Before Taxes (Details)
Segment Information - Selected Financial Data (Details)
Subsequent Events
Subsequent Events - Amendment To The Concentra Credit Facilities (Details)
Subsequent Events - Amendment To The Select Credit Facilities (Details)

Material Contracts, Statements, Certifications & more

Select Medical Corp provided additional information to their SEC Filing as exhibits

CIK: 1035688
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-18-013339
Submitted to the SEC: Thu Nov 01 2018 12:45:22 PM EST
Accepted by the SEC: Thu Nov 01 2018
Period: Sunday, September 30, 2018
Industry: Specialty Outpatient Facilities

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