EX-99.1 3 eightk10909ex991.htm RHB 8K 10-9-09 EXHIBIT 99.1 eightk10909ex991.htm
Exhibit 99.1

ITEM 6.                 SELECTED FINANCIAL DATA

The following table presents selected financial data for the periods indicated for our continuing operations only.  Effective June 1, 2009, the Company completed the sale of all the outstanding common stock of Phase 2 Consulting, Inc. (“Phase 2”).  The financial data herein has been updated to reflect the classification of the results of operations of Phase 2 as discontinued operations for all periods presented.

See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and the notes to our accompanying consolidated financial statements for additional information regarding the financial data presented under this item.

SIX-YEAR FINANCIAL SUMMARY
                                              
Dollars in thousands, except per share data
                                              
(Year ended December 31,)
  
2008
      
2007
      
2006
      
2005
      
2004
      
2003
  
Consolidated statement of earnings data:
                                              
Operating revenues
$
735,412
    
$
693,013
    
$
601,807
    
$
443,731
    
$
378,797
    
$
539,322
  
Operating earnings (loss) (2)
  
32,907
      
27,530
      
21,551
      
32,610
      
41,311
      
(14,396)
  
Amounts attributable to RehabCare: (2) (3)
                                              
Earnings (loss) from continuing operations
$
19,568
    
$
13,041
    
$
7,594
    
$
(17,373)
    
$
22,893
    
$
(13,699)
  
Basic EPS from continuing operations
$
1.11
    
$
0.76
    
$
0.45
    
$
(1.04)
    
$
1.41
    
$
(0.86)
  
Diluted EPS from continuing operations
$
1.10
    
$
0.75
    
$
0.44
    
$
(1.04)
    
$
1.36
    
$
(0.86)
  
Weighted average shares outstanding (000s):
                                              
Basic
  
17,583
      
17,226
      
17,008
      
16,751
      
16,292
      
16,000
  
Diluted
  
17,798
      
17,459
      
17,243
      
16,751
      
16,835
      
16,000
  
                                               
Consolidated balance sheet data:
                                              
Working capital
$
97,284
    
$
80,285
    
$
85,982
    
$
60,664
    
$
76,451
    
$
76,952
  
Total assets
  
438,406
      
408,560
      
428,296
      
272,925
      
277,666
      
233,626
  
Total liabilities
  
160,606
      
163,271
      
217,431
      
74,677
      
70,638
      
55,671
  
Total equity
  
277,800
      
245,289
      
210,865
      
198,248
      
207,028
      
177,955
  
                                               
Financial statistics:
                                              
Operating margin (2)
  
4.5%
      
4.0%
      
3.6%
      
7.3%
      
10.9%
      
(2.7)%
  
Net margin (2) (3)
  
2.7%
      
1.9%
      
1.3%
      
(3.9)%
      
6.0%
      
(2.5)%
  
Current ratio
  
2.1:1
      
1.9:1
      
1.9:1
      
1.9:1
      
2.3:1
      
2.9:1
  
Diluted EPS growth rate (2) (3)
  
46.7%
      
70.5%
      
142.3%
      
(176.5)%
      
258.1%
      
(162.3)%
  
Return on equity (1) (2) (3)
  
7.5%
      
5.7%
      
3.7%
      
(8.6)%
      
11.9%
      
(7.5)%
  
                                               
Operating statistics:
                                              
Freestanding hospitals:
                                              
Number of locations at end of year (4)
  
11
      
8
      
7
      
5
      
N/A
      
N/A
  
Number of patient discharges (4)
  
6,019
      
5,070
      
3,595
      
1,110
      
N/A
      
N/A
  
Program management:
                                              
Inpatient units:
                                              
Average number of programs
  
124
      
127
      
137
      
145
      
142
      
133
  
Average admissions per program
  
377
      
363
      
360
      
372
      
383
      
422
  
Outpatient programs:
                                              
Average number of locations
  
33
      
35
      
41
      
42
      
42
      
48
  
Patient visits (000s)
  
983
      
1,006
      
1,130
      
1,146
      
1,133
      
1,248
  
Contract therapy:
                                              
Average number of locations (5)
  
1,066
      
1,125
      
1,018
      
749
      
588
      
460
  


(1)
Based on average of beginning and ending equity.
(2)
The results for 2003 include a pretax loss on net assets held for sale of $43.6 million ($30.6 million after tax or $1.90 per diluted share).
(3)
The results for 2005 include after tax losses on our equity investment in InteliStaf Holdings, Inc. of $36.5 million or $2.18 per diluted share.
(4)
We entered the freestanding hospitals business on August 1, 2005 with the acquisition of substantially all of the operating assets of MeadowBrook Healthcare, Inc.
(5)
Effective July 1, 2006, we acquired Symphony Health Services, LLC and its RehabWorks business, which added 470 contract therapy locations.