Exhibit 99.1

 

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PREMIER INC. REPORTS FISCAL 2017 THIRD-QUARTER RESULTS

CHARLOTTE, NC, May 8, 2017 – Premier Inc. (NASDAQ: PINC) today reported financial results for the fiscal 2017 third quarter ended March 31, 2017.

Third-Quarter Highlights:

 

    Net revenue increased 27% to $379.8 million from the same period last year; Supply Chain Services segment revenue rose 34% and Performance Services segment revenue increased 10%.

 

    Net income rose 1% to $72.1 million from the same period a year ago. After non-cash adjustments to reflect the change in the redemption value of limited partners’ Class B common unit ownership at the end of each period, diluted earnings per share reflected a loss of $1.58 compared with diluted earnings per share of $0.43 the prior year.

 

    Non-GAAP adjusted EBITDA* of $136.7 million increased 14% from the same period last year.

 

    Non-GAAP adjusted fully distributed net income* increased 14% to $73.0 million, representing $0.52 per diluted share, an increase of 18% over $0.44 per diluted share from a year ago.

 

    Updated fiscal 2017 guidance reflects reduced Supply Chain Services and Performance Services revenue ranges, narrowed consolidated non-GAAP adjusted EBITDA range, and increased adjusted fully distributed earning per share range.

 

* Descriptions of non-GAAP adjusted EBITDA, adjusted fully distributed net income and other non-GAAP financial measures are provided in “Use and Definition of Non-GAAP Financial Measures,” and reconciliations to GAAP financial measures are provided in the tables at the end of this release.

“Our fiscal third-quarter performance reflects the continuing growth and strong profitability of our company,” said Susan DeVore, president and chief executive officer. “Growth in our Supply Chain Services segment was driven largely by our group purchasing business, which included contributions from our recent Innovatix and Essensa acquisitions. The double-digit Performance Services segment results were in line with management expectations of increased growth in the second half of the fiscal year.”

“While we experienced some revenue headwinds in our lower-margin integrated pharmacy business within Supply Chain Services, they had very minimal impact on the quarter’s profitability or on the profitability guidance for the remainder of the fiscal year,” DeVore said. “Looking at the fourth quarter, we are reducing full-year revenue guidance, we are narrowing our guidance range for consolidated non-GAAP adjusted EBITDA, and we are raising guidance for non-GAAP fully distributed earnings per share to reflect management’s confidence in achieving strong profitability growth for the quarter and full year.


The following information was filed by Premier, Inc. (PINC) on Thursday, May 11, 2017 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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