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Express Scripts Inc (885721) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Express Scripts Inc

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CIK: 885721
         
Exhibit 99.1
(EXPRESS SCRIPTS LOGO)
Contact:
Jeff Hall, Chief Financial Officer
David Myers, Vice President Investor Relations
(314) 810-3115
investor.relations@express-scripts.com
Express Scripts Reports Strong Fourth Quarter Earnings
Provides 2010 Earnings Per Share Guidance
     ST. LOUIS, February 24, 2010 —
Express Scripts, Inc. (Nasdaq: ESRX) announced 2009 fourth quarter and full year net income from continuing operations of $222.9 million and $826.5 million, or $0.80 and $3.11 per diluted share, respectively. Adjusted earnings per share, as detailed in Table 3, were $0.97 and $3.58 per diluted share for the fourth quarter and full year, respectively.
     “2009 was an excellent year for Express Scripts. During the year, we closed the NextRx transaction, began a long-term strategic alliance with WellPoint, implemented a new contract for the Department of Defense (DoD) and had a successful selling season, while continuing to provide superior service to existing clients and patients,” stated George Paz, president, chief executive officer and chairman. “Our strong financial performance is a testament to steadfast execution of our business model of alignment and the hard work we do every day to make prescription drugs safer and more affordable.”
Fourth Quarter 2009 Review (2009 data reflected on an adjusted basis. See Table 2)
  •   Generic utilization of 69.1%, up 1.8 percentage points from 2008.
 
  •   Cash flow from continuing operations of $844.2 million, up 129% from 2008.
 
  •   Total adjusted claims of 154.6 million, up 23% from 2008.
 
  •   EBITDA of $488.1 million, up 34% from 2008.
 
  •   EBITDA per adjusted claim was $3.16, down 7% from the third quarter of 2009, reflecting the impact of NextRx.
 
  •   Gross profit percentage was down from 2008 due to the revenue recognition change for the DoD contract.
Full Year 2009 Review (2009 data reflected on an adjusted basis. See Table 2)
  •   Generic utilization of 68.3%, up 2.2 percentage points from 2008.
 
  •   Total adjusted claims of 530.6 million, up 5% from 2008.
 
  •   EBITDA of $1,696.9 million, up 23% from 2008. EBITDA per adjusted claim was $3.20, an increase of 18% over 2008.

 

The following information was filed by Express Scripts Inc on Wednesday, February 24, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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SEC Filing Tools
CIK: 885721
Form Type: 10-K Annual Report
Accession Number: 0000950123-10-016370
Submitted to the SEC: Wed Feb 24 2010 4:29:29 PM EST
Accepted by the SEC: Wed Feb 24 2010
Period: Thursday, December 31, 2009
Industry: Retail Drug Stores And Proprietary Stores

External Resources:
SEC.gov

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