0000931763-01-501694.txt : 20011008
0000931763-01-501694.hdr.sgml : 20011008
ACCESSION NUMBER: 0000931763-01-501694
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 10
CONFORMED PERIOD OF REPORT: 20010919
ITEM INFORMATION: Financial statements and exhibits
ITEM INFORMATION:
FILED AS OF DATE: 20010919
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: NATIONAL DATA CORP
CENTRAL INDEX KEY: 0000070033
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
IRS NUMBER: 580977458
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0531
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-12392
FILM NUMBER: 1740536
BUSINESS ADDRESS:
STREET 1: NATIONAL DATA COPRORATION
STREET 2: NATIONAL DATA PLAZA
CITY: ATLANTA
STATE: GA
ZIP: 30329
BUSINESS PHONE: 4047282000
MAIL ADDRESS:
STREET 1: NATIONAL DATA PLZ
CITY: ATLANTA
STATE: GA
ZIP: 30329-2010
8-K
1
d8k.txt
FORM 8-K FOR PERIOD DATED SEPTEMBER 19, 2001
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 19, 2001
------------------
Commission File No. 001-12392
---------
NATIONAL DATA CORPORATION
-------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 58-0977458
-------- ----------
(State or other jurisdiction of (IRS Employer
incorporation) Identification Number)
National Data Plaza, Atlanta, Georgia 30329-2010
------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (404) 728-2000
--------------
N/A
---
(Former name, former address and former fiscal year, if
changed since last year)
Item 7. Financial Statements and Exhibits
---------------------------------
Exhibit 99.1
(a) Press Release dated September 19, 2001
(b) Schedules:
1) National Data Corporation (unaudited) Consolidated Statements of
Income for the first quarter ended August 31, 2001 (GAAP) and
August 31, 2000 (normalized),
2) National Data Corporation (unaudited) Consolidated Statements of
Income (Loss) (GAAP) for the first quarter ended August 31, 2001
and August 31, 2000,
3) National Data Corporation (unaudited) Segment Information for the
first quarter ended August 31, 2001 (GAAP) and August 31, 2000
(normalized),
4) National Data Corporation (unaudited) Segment Information (GAAP)
for the first quarter ended August 31, 2001 and August 31, 2000,
5) National Data Corporation Consolidated Balance Sheets for August
31, 2001 (unaudited) and May 31, 2001,
6) National Data Corporation (unaudited) Consolidated Statements of
Cash Flows for the three months ended August 31, 2001 and
August 31, 2000,
7) National Data Corporation (unaudited) Consolidated Statements of
Income for fiscal 2000 (normalized), 2001 (by quarter)(normalized)
and the first quarter ended August 31, 2001 (GAAP), and
8) National Data Corporation (unaudited) Consolidated Statements of
Income or (Loss) (GAAP) for fiscal 2000, 2001 (by quarter) and the
first quarter ended August 31, 2001.
As an indication of the historical performance of the continuing NDCHealth
business, in Exhibits 99.1 (b) 1, 3 and 7 to this report, we have provided
certain financial information regarding NDCHealth, the stand-alone healthcare
information business segment that remains after the spin-off of Global Payments
Inc. The financial information presented in these exhibits have been
"normalized" for certain items discussed under the heading "Management's
Discussion and Analysis of Financial Condition and Results of Operations" in our
Annual Report on Form 10-K for the year ended May 31, 2001.
Item 9. Regulation FD Disclosure
------------------------
On September 19, 2001, National Data Corporation issued a press release
which is filed herewith as Exhibit 99.1 (a) and (b) 1, 2, 3, 4, 5 and 6 and
incorporated in this Item 9 by this reference.
We believe that NDCHealth is well positioned to provide processing and
information products and services to the healthcare industry in the future.
Based on observed market conditions and our results for the first quarter ended
August 31, 2001, our expectation remains that revenue for fiscal year 2002 will
be in the $375-385 million
1
range resulting in diluted earnings per share in the range of $1.10 to $1.14,
excluding the impact of the accounting change described below.
In July 2001, the Financial Accounting Standards Board issued SFAS No. 142,
"Goodwill and Other Intangible Assets" ("SFAS 142"). SFAS 142 deals with, among
other things, amortization of goodwill. We implemented this new standard in the
first quarter of fiscal 2002. The impact of the implementation of SFAS 142 in
the first quarter was an addition of $0.05 to diluted earnings per share. We
estimate that the annual impact of SFAS 142 will be an addition of approximately
$0.20 to diluted earnings per share in fiscal 2002, resulting in an expected
reported range of $1.30 to $1.34 in diluted earnings per share for fiscal 2002.
Additionally, we reduced the fiscal 2002 effective tax rate to 36.0% due to our
application of this new standard.
Based on observed market conditions and our results for the first quarter
ended August 31, 2001, we expect second quarter ending November 30, 2001 revenue
to be in the range of $90-93 million, resulting in diluted earnings per share of
$0.32-0.33 after the impact of SFAS 142.
Looking ahead to fiscal 2003, we believe we can sustain growth in our
existing markets. Excluding acquisitions, we would expect revenue and earnings
to grow at a mid-teens rate, with earnings growing faster than revenue.
As a result of the adjustments and the other principles and assumptions
discussed above and under the heading "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in our Annual Report on Form 10-K
for the year ended May 31, 2001, which are the basis of our presentation of the
financial schedules filed in Exhibit 99.1 (b) 1, 3 and 7, please note that these
financial schedules do not reflect our historical financial statements.
When used in this report, and the exhibits hereto, the words "believes,"
"anticipates," "plans," "expects," "intends" and similar expressions and
statements that are necessarily dependent on future events are intended to
identify forward-looking statements concerning the Company's business
operations, economic performance and financial condition, including in
particular, the Company's business strategy and means to implement the strategy,
the Company's objectives, the amount of future capital expenditures, the
likelihood of the Company's success in developing and introducing new products
and expanding its business, the timing of the introduction of new and modified
products or services and competition, pricing, development difficulties, the
ability to consummate and integrate acquisitions, and the expected benefits and
prospects for alliances. For such statements, the protection of the safe harbor
for forward-looking statements contained in the Private Securities Litigation
Reform Act of 1995 is applicable and invoked. Such statements are based on a
number of assumptions, estimates, projections or plans that are inherently
subject to significant risks, uncertainties and contingencies that are subject
to change. Actual revenues, revenue growth and margins will be dependent upon
all such factors and results subject to risks related to the
2
implementation of changes by the Company, the failure to implement changes,
customer acceptance of such changes or lack of change. Actual results of events
could differ materially from those anticipated in the Company's forward-looking
statements as a result of a variety of factors, including: (a) those set forth
in the Registrant's Annual Report on Form 10-K for the period ended May 31, 2001
which are incorporated herein by this reference; (b) those set forth elsewhere
herein; (c) those set forth from time to time in the Company's press releases
and reports and other filings made with the Securities and Exchange Commission;
and (d) those set forth from time to time in the Company's analyst calls and
discussions. In addition, the Company is currently unable to assess the impact,
if any, on its financial performance that may result from the economic effects
of the terrorist attack on the United States. The Company cautions that such
factors are not exclusive. Consequently, all of the forward-looking statements
made herein are qualified by these cautionary statements and readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. The Company undertakes no obligation to update
forward-looking or other statements or to publicly release the results of any
revisions of such forward-looking statements that may be made to reflect events
or circumstances after the date hereof, or thereof, as the case may be, or to
reflect the occurrence of unanticipated events.
3
SIGNATURE
---------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL DATA CORPORATION
-------------------------
(Registrant)
By: /s/ David H. Shenk
---------------------------------
David H. Shenk
Vice President & Corporate Controller
(Chief Accounting Officer)
Date: September 19, 2001
4
EX-99.1(A)
3
dex991a.txt
PRESS RELEASE DATED SEPTEMBER 19, 2001
EXHIBIT 99.1(a)
NDCHealth ANNOUNCES FIRST QUARTER FISCAL 2002 RESULTS
ATLANTA, September 19, 2001 --- NDCHealth (National Data Corporation, NYSE:
NDC) announced today financial results for its first quarter of fiscal 2002
ended August 31, 2001. Revenue increased to $88.4 million resulting in net
income of $11.1 million and diluted earnings per share of $0.31. These results
compare to the prior year's normalized revenue of $80.2 million, net income of
$7.3 million and diluted earnings per share of $0.22.
During the quarter, NDCHealth adopted SFAS 142 that includes the
requirement to eliminate certain expenses related to goodwill amortization. The
impact of this accounting change in the first quarter was to increase earnings
per share by $0.05.
The normalized results for fiscal 2001 exclude divested businesses and
eliminate results from discontinued operations to display results from ongoing
operations. On a GAAP basis, last year's first quarter results included revenue
of $85.9 million, net income of $16.2 million and diluted earnings per share of
$0.48.
In commenting on the results, chief executive officer Walter Hoff said,
"Our financial condition remains strong. We operate in growth markets that
provide a high percentage of recurring revenue and strong cash flow. EBITDA for
the quarter exceeded $25 million. Our operating margin was 21.5%.
"In both of our business segments, we have significant scale, broad product
lines and extensive marketing channels.
"We are enthusiastic about our opportunities for market expansion and
productivity improvements during the remaining three quarters of fiscal 2002.
Based on first quarter results, we continue to estimate that annual revenue will
be approximately $375 to $385 million, with diluted earnings per share in the
range of $1.30 to $1.34."
NDCHealth is a leading provider of health information services that add
value to pharmacy, hospital, physician, pharmaceutical and payer businesses.
This document may contain forward-looking statements concerning the Company's
operations, current and future performance and financial condition. These items
involve risks and uncertainties such as product demand, market and customer
acceptance, the effect of economic conditions, competition, pricing, development
difficulties, the ability to consummate and integrate acquisitions, and other
risks detailed in
the Company's SEC filings, including the most recent Form 10-K. In particular,
the Company is currently unable to assess the impact, if any, on its financial
performance that may result from the economic effects of the terrorist attack on
the United States. Notes that reconcile the presentation of the normalized
results included herein to GAAP results are filed with the SEC in the Company's
most recent Form 10-K. The Company undertakes no obligation to revise any of
these statements to reflect future circumstances or the occurrence of
unanticipated events.
###
EX-99.1(B)1
4
dex991b1.txt
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME-NORM
EXHIBIT 99.1(b)1
NORMALIZED
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except per share data)
--------------------------------------------------------------------------------
Three Months Ended August 31,
-----------------------------
2001 2000
GAAP Normalized
------- ----------
Revenues - Information Management $34,513 $31,298
Revenues - Network Services and Systems 53,843 48,947
------- -------
Revenues 88,356 80,245
------- -------
Operating expenses:
Cost of service 41,835 38,462
Sales, general and administrative 20,986 19,926
Depreciation and amortization 6,581 7,989
------- -------
69,402 66,377
------- -------
Operating income 18,954 13,868
------- -------
Other income (expense):
Interest and other income 351 17
Interest and other expense (2,320) (1,959)
Minority interest in earnings 326 -
------- -------
(1,643) (1,942)
------- -------
Income before income taxes 17,311 11,926
Provision for income taxes 6,232 4,592
------- -------
Net income $11,079 $ 7,334
======= =======
Basic earnings per share $ 0.33 $ 0.22
------- -------
Shares 33,937 32,778
Diluted earnings per share: $ 0.31 $ 0.22
------- -------
Shares 39,670 33,441
Normalized results for the three months ended August 31, 2000 exclude revenues
and operating expenses related to divested businesses of $5.6 million and $5.3
million, respectively, and discontinued operations.
EX-99.1(B)2
5
dex991b2.txt
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
EXHIBIT 99.1(b)2
GAAP
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except per share data)
--------------------------------------------------------------------------------
Three Months Ended August 31,
----------------------------------
2001 2000
--------- ---------
Revenues:
Information management $34,513 $31,298
Network services and systems 53,843 48,947
Divested businesses - 5,629
------- -------
88,356 85,874
------- -------
Operating expenses:
Cost of service 41,835 43,340
Sales, general and administrative 20,986 20,134
Depreciation and amortization 6,581 8,213
------- -------
69,402 71,687
------- -------
Operating income 18,954 14,187
------- -------
Other income (expense):
Interest and other income 351 17
Interest and other expense (2,320) (1,959)
Minority interest in loss 326 -
------- -------
(1,643) (1,942)
------- -------
Income before income taxes and discontinued operations 17,311 12,245
Provision for income taxes 6,232 4,714
------- -------
Income before discontinued operations 11,079 7,531
Discontinued operations, net of income taxes - 8,649
------- -------
Net income $11,079 $16,180
======= =======
Basic earnings per share:
Income before discontinued operations $ 0.33 $ 0.23
------- -------
Discontinued operations $ - $ 0.26
------- -------
Basic earnings per share $ 0.33 $ 0.49
------- -------
Shares 33,937 32,778
Diluted earnings per share:
Income before discontinued operations $ 0.31 $ 0.23
------- -------
Discontinued operations $ - $ 0.26
------- -------
Diluted earnings per share $ 0.31 $ 0.48
------- -------
Shares 39,670 36,193
EX-99.1(B)3
6
dex991b3.txt
UNAUDITED SEGMENT INFORMATION- NORMALIZED
EXHIBIT 99.1(b)3
NORMALIZED
UNAUDITED SEGMENT INFORMATION
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except per share data)
--------------------------------------------------------------------------------
Three Months Ended August 31,
------------------------------
2001 2000
GAAP Normalized
------------------------------
Revenues:
Information Management $34,513 $31,298
Network Services and Systems 53,843 48,947
------- -------
$88,356 $80,245
------- -------
Income Before Income Taxes:
Information Management $ 4,118 $ 3,456
Network Services and Systems 13,193 8,470
------- -------
$17,311 $11,926
------- -------
Normalized results for the three months ended August 31, 2000 exclude revenues
and operating expenses related to divested businesses of $5.6 million and $5.3
million, respectively, and discontinued operations.
EX-99.1(B)4
7
dex991b4.txt
UNAUDITED SEGMENT INFORMATION
EXHIBIT 99.1(b)4
GAAP
UNAUDITED SEGMENT INFORMATION
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except per share data)
--------------------------------------------------------------------------------
Three Months Ended August 31,
--------------------------------
2001 2000
---------------------------------
Revenues:
Information Management $ 34,513 $ 31,298
Network Services and Systems 53,843 48,947
Divested Businesses - 5,629
-------- --------
$ 88,356 $ 85,874
-------- --------
Income Before Income Taxes:
Information Management $ 4,118 $ 3,456
Network Services and Systems 13,193 8,470
Divested Businesses - 319
-------- --------
$ 17,311 $ 12,245
-------- --------
EX-99.1(B)5
8
dex991b5.txt
CONSOLIDATED BALANCE SHEETS
EXHIBIT 99.1(b)5
CONSOLIDATED BALANCE SHEETS
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except share data)
--------------------------------------------------------------------------------
August 31, May 31,
2001 2001
----------- ---------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 19,232 $ 12,420
Accounts receivable 67,019 70,648
Allowance for doubtful accounts (5,567) (6,628)
-------- --------
Accounts receivable, net 61,452 64,020
-------- --------
Income tax receivable 434 2,265
Deferred income taxes 24,557 29,539
Prepaid expenses and other current assets 19,496 18,788
-------- --------
Total current assets 125,171 127,032
-------- --------
Property and equipment, net 77,316 82,956
Intangible assets, net 189,932 221,757
Deferred income taxes 13,093 9,886
Investments 74,866 35,591
Other 9,098 10,990
-------- --------
Total Assets $489,476 $488,212
======== ========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $ 172 $ 170
Obligations under capital leases 1,261 2,586
Accounts payable and accrued liabilities 39,931 53,228
Deferred income 18,613 13,624
-------- --------
Total current liabilities 59,977 69,608
-------- --------
Long-term debt 151,525 151,567
Obligations under capital leases 1,032 1,108
Other long-term liabilities 20,873 23,044
-------- --------
Total liabilities 233,407 245,327
-------- --------
Commitments and contingencies
Minority interest in equity of subsidiaries 12,092 12,418
Shareholders' equity:
Preferred stock, par value $1.00 per share;
1,000,000 shares authorized, none issued - -
Common stock, par value $.125 per share;
200,000,000 shares authorized; 33,989,369
and 33,875,235 shares issued, respectively 4,249 4,234
Capital in excess of par value 190,566 188,636
Retained earnings 58,112 48,392
Deferred compensation and other (6,962) (7,101)
Unrealized holding loss (31) (111)
Cumulative translation adjustment (1,957) (3,583)
-------- --------
Total shareholders' equity 243,977 230,467
-------- --------
Total Liabilities and Shareholders' Equity $489,476 $488,212
======== ========
EX-99.1(B)6
9
dex991b6.txt
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
EXHIBIT 99.1(b)6
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands)
--------------------------------------------------------------------------------
Three Months Ended August 31,
-----------------------------
2001 2000
-------- --------
Cash flows from operating activities:
Net income $ 11,079 $ 16,180
Adjustments to reconcile net income to cash provided by
operating activities:
Income from discontinued operations - (8,649)
Depreciation and amortization 6,581 8,213
Deferred income taxes 434 -
Provision for bad debt 609 490
Other, net 108 797
Changes in assets and liabilities which provided (used) cash,
net of the effects of acquisitions:
Accounts receivable, net (281) 1,951
Prepaid expenses and other assets (135) (492)
Accounts payable and accrued liabilities (12,693) (4,017)
Deferred income 5,039 5,513
Income taxes 1,786 3,876
--------- --------
Net cash provided by operating activities 12,527 23,862
--------- --------
Cash flows from investing activities:
Capital expenditures (5,795) (7,031)
Business acquisitions, net of acquired cash - (10,227)
Business divestiture and sale of marketable securities - 20,000
Purchase of investment - (11,756)
--------- --------
Net cash used in investing activities (5,795) (9,014)
--------- --------
Cash flows from financing activities:
Net repayments under lines of credit - (9,500)
Net principal payments under capital lease arrangements
and other long-term debt (1,443) (1,410)
Net issuances (purchases) related to stock activities 1,675 (1,065)
Dividends paid (1,359) (2,459)
--------- --------
Net cash used in financing activities (1,127) (14,434)
--------- --------
Net cash provided by discontinued operations 1,207 8,018
--------- --------
Increase in cash and cash equivalents 6,812 8,432
Cash and cash equivalents, beginning of period 12,420 1,789
--------- --------
Cash and cash equivalents, end of period $ 19,232 $ 10,221
======== ========
EX-99.1(B)7
10
dex991b7.txt
CONSOLIDATED STATEMENTS OF INCOME - NORMALIZED
EXHIBIT 99.1(b)7
Consolidated Statement of Income (Unaudited)
NDCHealth (Normalized)
(in thousands)
--------------------------------------------------------------------------------
FY00 FY01 FY02
---------- ------------------------------------------------------- -------
Total Year Qtr 1 Qtr 2 Qtr 3 Qtr 4 YTD Qtr 1
---------- ------- ------- -------- ------- ---------- -------
Revenue - Information Management $131,229 $31,298 $33,917 $35,342 $37,534 $138,091 $34,513
Revenue - Network Services and Systems 158,051 48,947 49,516 52,890 54,509 205,862 53,843
-------- ------- ------- ------- ------- -------- -------
Revenue - NDCHealth 289,280 80,245 83,433 88,232 92,043 343,953 88,356
-------- ------- ------- ------- ------- -------- -------
Operating expenses:
Cost of service 141,298 38,462 41,521 45,718 45,693 171,394 41,835
Sales, general and administrative 63,411 19,926 18,303 18,653 20,468 77,350 20,986
Depreciation and amortization 29,195 7,989 8,638 8,686 9,163 34,476 6,581
-------- ------- ------- ------- ------- -------- -------
233,904 66,377 68,462 73,057 75,324 283,220 69,402
Operating income - NDCHealth 55,376 13,868 14,971 15,175 16,719 60,733 18,954
EBITDA 84,571 21,857 23,609 23,861 25,882 95,209 25,535
Other income/(expense) (6,580) (1,942) (1,781) (1,112) (1,311) (6,146) (1,643)
-------- ------- ------- ------- ------- -------- -------
IBIT - Information Management 21,978 3,456 4,646 5,072 4,931 18,105 4,118
IBIT - Network Services and Systems 26,818 8,470 8,544 8,991 10,477 36,482 13,193
- - - - - - -
-------- ------- ------- ------- ------- -------- -------
Income before income taxes - NDCHealth 48,796 11,926 13,190 14,063 15,408 54,587 17,311
-------- ------- ------- ------- ------- -------- -------
Income Taxes 18,786 4,592 5,078 5,414 5,932 21,016 6,232
-------- ------- ------- ------- ------- -------- -------
Net Income (Normalized) $ 30,010 $ 7,334 $ 8,112 $ 8,649 $ 9,476 $ 33,571 $11,079
======== ======= ======= ======= ======= ======== =======
Basic Shares 33,232 32,778 32,889 32,992 33,970 33,009 33,937
======== ======= ======= ======= ======= ======== =======
Basic earnings per share $ 0.90 $ 0.22 $ 0.25 $ 0.26 $ 0.28 $ 1.02 $ 0.33
======== ======= ======= ======= ======= ======== =======
Diluted Shares 34,448 33,441 34,057 34,348 35,368 34,153 39,670
======== ======= ======= ======= ======= ======== =======
Diluted earnings per share $ 0.87 $ 0.22 $ 0.24 $ 0.25 $ 0.27 $ 0.98 $ 0.31
======== ======= ======= ======= ======= ======== =======
EX-99.1(B)8
11
dex991b8.txt
CONSOLIDATED STATEMENT OF INCOME
EXHIBIT 99.1(b)8
Consolidated Statement of Income (Unaudited)
NATIONAL DATA CORPORATION
(in thousands)
--------------------------------------------------------------------------------
FY00 FY01 FY02
---------- ------------------------------------------------------ -------
Total Year Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Year Qtr 1
---------- ------- ------- -------- ------- ---------- -------
Revenue - Information Management $131,229 $31,298 $33,917 $35,342 $37,534 $138,091 $34,513
Revenue - Network Services and Systems 158,051 48,947 49,516 52,890 54,509 205,862 53,843
Revenue - Other 56,393 5,629 233 - - 5,862 -
-------- ------- ------- ------- ------- -------- -------
Revenue - NDCHealth 345,673 85,874 83,666 88,232 92,043 349,815 88,356
-------- ------- ------- ------- ------- -------- -------
Operating expenses:
Cost of service 181,001 43,340 41,662 45,718 45,693 176,413 41,835
Sales, general and administrative 86,062 20,134 18,385 18,653 20,468 77,640 20,986
Depreciation and amortization 31,834 8,213 8,683 8,686 9,163 34,745 6,581
Non-recurring charges 34,393 - 2,156 - - 2,156 -
-------- ------- ------- ------- ------- -------- -------
333,290 71,687 70,886 73,057 75,324 290,954 69,402
-------- ------- ------- ------- ------- -------- -------
Operating income - NDCHealth 12,383 14,187 12,780 15,175 16,719 58,861 18,954
EBITDA 78,610 22,400 23,619 23,861 25,882 95,762 25,535
Other income/(expense) (11,721) (1,942) (1,781) (1,112) (8,264) (13,099) (1,643)
-------- ------- ------- ------- ------- -------- -------
IBIT - Information Management 17,728 3,456 4,646 5,072 4,931 18,105 4,118
IBIT - Network Services and Systems 24,781 8,470 8,544 8,991 10,477 36,482 13,193
IBIT - Other (41,847) 319 (2,191) - (6,953) (8,825) -
-------- ------- ------- ------- ------- -------- -------
Income before income taxes - NDCHealth 662 12,245 10,999 14,063 8,455 45,762 17,311
-------- ------- ------- ------- ------- -------- -------
Income Taxes 1,825 4,714 4,310 5,414 3,256 17,694 6,232
-------- ------- ------- ------- ------- -------- -------
Net Income before Discontinued Operations (1,163) 7,531 6,689 8,649 5,199 28,068 11,079
-------- ------- ------- ------- ------- -------- -------
Discontinued Operations (39,002) 8,649 (326) - - 8,323 -
-------- ------- ------- ------- ------- -------- -------
Net Income $(40,165) $16,180 $ 6,363 $ 8,649 $ 5,199 $ 36,391 $11,079
======== ======= ======= ======= ======= ======== =======
Basic Shares 33,232 32,778 32,889 32,992 33,970 33,009 33,937
======== ======= ======= ======= ======= ======== =======
Basic earnings per share $ (1.21) $ 0.49 $ 0.19 $ 0.26 $ 0.15 $ 1.10 $ 0.33
======== ======= ======= ======= ======= ======== =======
Diluted Shares 33,232 36,193 34,057 34,348 35,368 34,153 39,670
======== ======= ======= ======= ======= ======== =======
Diluted earnings per share $ (1.21) $ 0.48 $ 0.19 $ 0.25 $ 0.15 $ 1.07 $ 0.31
======== ======= ======= ======= ======= ======== =======