Exhibit 99.1

 

LOGO

PREMIER INC. REPORTS FISCAL 2018 FOURTH-QUARTER AND

FULL-YEAR RESULTS

CHARLOTTE, NC, August 21, 2018 – Premier Inc. (NASDAQ: PINC) today reported financial results for the fiscal 2018 fourth quarter and full fiscal year ended June 30, 2018.

Full-Year 2018 Highlights:

 

   

Net revenue increased 14% to $1.66 billion from the prior year; Supply Chain Services segment revenue rose 18% to $1.30 billion and Performance Services segment revenue increased 2% to $360.7 million.

 

   

Due to a one-time re-measurement of deferred taxes related to tax reform, income tax expense increased more than 200%, resulting in a 43% decline in net income to $257.6 million from the prior year. 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 totaled $1.36 compared with $1.51 the prior year.

 

   

Non-GAAP adjusted EBITDA* increased 8% to $543.0 million from the prior year.

 

   

Non-GAAP adjusted fully distributed net income* increased 19% to $317.1 million, representing $2.31 per diluted share, an increase of 22% over $1.89 per diluted share from the prior year.

 

   

For the fiscal year ended June 30, 2018, the company generated cash flow from operations of $507.7 million. At June 30, 2018, the company’s cash and cash equivalents totaled $152.4 million, and the company had an outstanding balance of $100 million on its five-year revolving $750 million credit facility.

 

   

Non-GAAP free cash flow* for the fiscal year increased 55% to $335.8 million from $216.5 million the prior year and represented 62% of full-year non-GAAP adjusted EBITDA.

 

   

Premier established a $250 million stock repurchase plan for fiscal 2019 and completed its previous $200.0 million stock repurchase plan implemented during fiscal 2018.

Q4 2018 Highlights:

 

   

Net revenue increased 8% to $434.0 million from the same period last year; Supply Chain Services segment revenue rose 10% to $339.2 million and Performance Services segment revenue increased 2% to $94.8 million.


The following information was filed by Premier, Inc. (PINC) on Thursday, August 23, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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