Select Medical Holdings Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported that net operating revenues of $749.955 million compared to $744.021 million for the same quarter, prior year. Income from operations was $82.53 million compared to $91.604 million for the same quarter, prior year. Income before income taxes was $58.663 million against $70.147 million for the same quarter, prior year. Net income attributable to the company was $34.418 million or $0.24 per diluted share against $42.572 million or $0.29 per basic and diluted share for the same quarter, prior year. Net cash used in operating activities was $11.974 million against net cash provided by operating activities of $8.18 million for the same quarter, prior year. Purchases of property and equipment were $13.999 million against $11.751 million for the same quarter, prior year. Adjusted EBITDA for the first quarter was $100.081 million compared to $109.064 million for the same quarter, prior year. The company now expects consolidated net operating revenues for the full year 2013 to be in the range of $2.925 billion to $3.025 billion. The company now expects Adjusted EBITDA for the full year 2013 to be in the range of $375.0 million to $390.0 million. The company now expects fully diluted income per common share for the full year 2013 to be in the range of $0.86 to $0.93 and adjusted income per common share, which excludes the loss on early retirement of debt and its related tax effects in the first quarter, for the full year 2013 to be in the range of $0.87 to $0.94. The above business outlook includes the estimated financial impact from sequestration cuts that went into effect for discharges occurring on or after April 1, 2013. The company estimates this negative impact to net operating revenues and Adjusted EBITDA to be between $20 million and $25 million. The company estimates this negative impact to net operating revenues and Adjusted EBITDA to be between $5 million and $10 million annually for its outpatient rehabilitation segment. The company assumed a 40.0% effective tax rate for the remainder of 2013 when preparing the above business outlook for the full year 2013. On May 1, 2013, the company's board of directors declared a quarterly cash dividend of $0.10 per share. The dividend will be payable on or about May 30, 2013 to stockholders of record as of the close of business on May 20, 2013.

Select Medical Holdings Corporation, Q1 2013 Earnings Call, May 03, 2013

Select Medical Holdings Corporation announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 02, 2013