Exhibit 99.1

 

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PRESS RELEASE

 

Investor relations contact:   Media contact:
Jim Storey   Amanda Forster
Vice President, Investor Relations   Vice President, Public Relations
704.816.5958   202-879-8004
jim_storey@premierinc.com   amanda_forster@premierinc.com

PREMIER, INC. REPORTS FISCAL 2014 FOURTH-QUARTER AND FULL-YEAR RESULTS

CHARLOTTE, NC, August 25, 2014 – Premier, Inc. (NASDAQ: PINC) today reported financial results for the fiscal 2014 fourth quarter and full year ended June 30, 2014.

Fiscal-Year Highlights:

Pro forma results reflect the impact of the company’s reorganization and initial public offering (IPO)*.

 

    On a pro forma basis, net revenue of $869.3 million increased 14% from the prior year - Supply Chain Services segment revenue rose 14% and Performance Services segment revenue increased 13%. GAAP net revenue* of $910.5 million increased 5% from GAAP net revenue for the prior year.

 

    On a pro forma basis, adjusted EBITDA of $351.0 million increased 12% from the prior year - Supply Chain Services segment pro forma adjusted EBITDA increased 9% and Performance Services segment pro forma adjusted EBITDA rose 31%.

 

    On a pro forma basis, adjusted fully distributed net income increased 9% to $188.6 million, or $1.30 per diluted share from a year ago. GAAP net income* attributable to shareholders was $28.3 million.

 

    For the fiscal year ended June 30, 2014, the company generated cash flow from operations of $368.1 million. At June 30, 2014, the company’s cash, cash equivalents and short- and long-term marketable securities totaled $540.4 million, compared with $255.6 million at June 30, 2013.

Fourth-Quarter Highlights:

Pro forma results reflect the impact of the company’s reorganization and IPO*.

 

    Net revenue of $235.5 million increased 17% from pro forma net revenue for the same period a year ago - Supply Chain Services segment revenue rose 18% and Performance Services segment revenue increased 15%. GAAP net revenue* for the same period a year ago was $240.6 million.

 

    Adjusted EBITDA of $93.2 million increased 19% from pro forma adjusted EBITDA for the same period a year ago - Supply Chain Services segment adjusted EBITDA increased 15% and Performance Services segment adjusted EBITDA rose 36%.

 

    Adjusted fully distributed net income increased 18% to $49.9 million, or $0.34 per diluted share from pro forma results for the same period a year ago. GAAP net income* attributable to shareholders was $8.9 million.


The following information was filed by Premier, Inc. (PINC) on Thursday, August 28, 2014 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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