Select Medical Holdings Corporation ("Select Medical") (NYSE: SEM) today announced results for its third quarter ended September 30, 2015.
For the third quarter ended September 30, 2015, net operating revenues increased 34.7% to $1,021.1 million, compared to $758.1 million for the same quarter, prior year. Income from operations was $48.2 million for the third quarter ended September 30, 2015, compared to $66.0 million for the same quarter, prior year. Income before income taxes included a non-operating, one-time gain of $29.6 million on the sale of an equity investment in the third quarter ended September 30, 2015. Net income attributable to Select Medical was $29.4 million for the third quarter ended September 30, 2015, compared to $26.5 million for the same quarter, prior year. Net income before interest, income taxes, depreciation and amortization, gain (loss) on early retirement of debt, stock compensation expense, Concentra acquisition costs, equity in earnings (losses) of unconsolidated subsidiaries, and gain on sale of equity investment ("Adjusted EBITDA") for the third quarter ended September 30, 2015 decreased to $84.5 million, compared to $86.8 million for the same quarter, prior year. A reconciliation of net income to Adjusted EBITDA is presented in table VIII of this release. Income per common share for the third quarter ended September 30, 2015 was $0.22 on a fully diluted basis compared to income per common share of $0.20 for the same quarter, prior year.
