MEMPHIS, Tenn.--(BUSINESS WIRE)--May 2, 2005--Accredo Health, Incorporated (NASDAQ: ACDO) today reported results for its third quarter ended March 31, 2005. Revenues for the quarter increased 26% to $517,060,000 compared to $409,308,000 for the same period in fiscal 2004. Earnings before minority interest, interest, taxes, depreciation and amortization (EBITDA) increased 2% to $41,103,000 for the quarter ended March 31, 2005, as compared to $40,310,000 for the quarter ended March 31, 2004. An explanation and reconciliation of net income under generally accepted accounting principles (GAAP) to EBITDA is discussed in the question and answer section of this press release. Transaction costs associated with the Company’s pending acquisition by Medco Health Solutions, Inc. (Medco) (NYSE: MHS) were approximately $1.4 million ($0.8 million net of tax), or $.02 per diluted share, for the quarter ended March 31, 2005. Net earnings decreased 5% to $20,175,000, or $0.40 per diluted share, for the quarter ended March 31, 2005 compared to $21,127,000, or $0.43 per diluted share, for the same period in fiscal 2004. Excluding the Medco transaction costs described above, net earnings were $0.42 per diluted share for the quarter ended March 31, 2005.
