EX-99.1 2 a08-1324_2ex99d1.htm EX-99.1

Exhibit 99.1

 

EMSC NEWS- FOR IMMEDIATE RELEASE

 

Contact:

 

Deborah Hileman

 

 

Vice President, Corporate Communications & Investor Relations

 

 

303-495-1210

 

 

Deborah.hileman@emsc.net

 

EMERGENCY MEDICAL SERVICES ANNOUNCES

EARNINGS GUIDANCE FOR 2008

AND NEW NATIONAL CONTRACT

 

Greenwood Village, Colo. (January 9, 2008) -- Emergency Medical Services Corporation (NYSE: EMS) (EMSC or the Company) today announced earnings guidance for the 2008 fiscal year ending December 31, 2008.  The Company expects full year diluted earnings per share between $1.57 and $1.63.  Full-year Adjusted EBITDA is expected to be in the range of $225.0 million to $230.0 million.

 

The Company also announced that it has signed a national agreement with Health Management Associates (HMA), to provide outsourced emergency department management, hospitalist, radiology, ground ambulance and air ambulance services on a preferred provider basis. According to William A. Sanger, Chairman, President and CEO, “this is further evidence of both our cross-selling ability and our continued efforts to tailor services to the needs of our customer base.”

 

About Emergency Medical Services Corporation

 

Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates two business segments: American Medical Response, Inc. (AMR), the Company’s healthcare transportation services segment, and EmCare Holdings Inc. (EmCare), the Company’s emergency department and hospital-based management services segment. AMR is the leading provider of ambulance services in the United States. EmCare is the nation’s leading provider of outsourced emergency department staffing and related management services. In 2006, EMSC provided services to nearly 10 million patients in more than 2,000 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado. For additional information visit www.emsc.net.

 

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Forward-Looking Statements

 

Certain statements and information herein may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. Any forward-looking statements herein are made as of the date of this press release, and EMSC undertakes no duty to update or revise any such statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in EMSC’s filings with the SEC from time to time, including in the section entitled “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and subsequent periodic reports. Among the factors that could cause future results to differ materially from those provided in this press release are: the impact on our revenue of changes in transport volume, mix of insured and uninsured patients, and third party reimbursement rates and methods; the adequacy of our insurance coverage and insurance reserves; potential penalties or changes to our operations if we fail to comply with extensive and complex government regulation of our industry, both as it exists now and as it may change in the future;  our ability to recruit and retain qualified physicians and other healthcare professionals, and enforce our non-compete agreements with our physicians;  the loss of one or more members of our senior management team; the outcome of government investigations of certain of our business practices; our ability to generate cash flow to service our debt obligations and fund the cost of capital expenditures to maintain and upgrade our vehicle fleet and medical equipment; and the loss of existing contracts and the accuracy of our assessment of costs under new contracts.

 

Non-GAAP Financial Measures Reconciliation

 

This press release includes a projection of 2008 Adjusted EBITDA, which is defined as net income before equity in earnings of unconsolidated subsidiary, income tax expense, loss on early debt extinguishment, interest and other income, realized gain (loss) on investments, interest expense, interest income from restricted assets and depreciation and amortization.  Adjusted EBITDA is commonly used by management and investors as a performance measure and a liquidity indicator. Adjusted EBITDA is not considered a measure of financial performance under U.S. generally accepted accounting principles (GAAP), and the items excluded from Adjusted EBITDA are significant components in understanding and assessing our financial performance.  Adjusted EBITDA should not be considered in isolation or as an alternative to GAAP measures such as net income, cash flows provided by or used in operating, investing or financing activities or other financial statement data presented in our consolidated financial statements as an indicator of financial performance or liquidity. A reconciliation for the forward-looking Adjusted EBITDA projection presented herein is not being provided due to the number of variables in the projected Adjusted EBITDA range.  Since Adjusted EBITDA is not a measure determined in accordance with GAAP and is susceptible to varying calculations, Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures of other companies.

 

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