Emergency Medical Services Announces $0.40 Diluted EPS for First Quarter 2008

Business Wire,  May 6, 2008  

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American Medical Response (AMR)

For the quarter ended March 31, 2008, AMR generated net revenue of $326.3 million, an increase of 5.9% compared to the same quarter last year. Adjusted EBITDA was $28.4 million, an increase of 13.8% compared to the same quarter last year, or 4.5% excluding prior year restructuring charges of $2.2 million. The increase in Adjusted EBITDA is attributable primarily to the net impact of higher revenue in existing markets and acquisitions. Fuel costs were $2.3 million higher than the same quarter last year. Insurance expense was $0.8 million higher than the same quarter last year and included a $1.9 million favorable prior period adjustment. The first quarter of 2007 included a favorable prior period insurance adjustment of $3.2 million.

EmCare

For the quarter ended March 31, 2008, EmCare generated net revenue of $239.5 million, an increase of 11.3% compared to the same quarter last year, or 16.1% excluding the $9 million positive revenue adjustment in the first quarter 2007. Adjusted EBITDA was $26.0 million compared to $29.3 million last year. Adjusted EBITDA increased 22.1% excluding the Adjusted EBITDA impact of $8 million from the positive revenue adjustment in the first quarter 2007. The growth in Adjusted EBITDA is the result of revenue and volume increases at existing contracts and 23 net new contracts added since December 31, 2006. Insurance expense was $0.2 million lower than the same quarter last year and included a $0.9 million favorable prior period adjustment. The first quarter in 2007 included a favorable prior period insurance adjustment of $2.0 million.

Conference Call

EMSC management will host a conference call and live audio webcast on Tuesday, May 6, 2008, at 11:00 a.m. EDT, to discuss the Company's financial results. A 30-day online replay will be available approximately one hour following the conclusion of the live broadcast. A link to the live broadcast and online replay is available on the Investor Relations section of the Company's website at www.emsc.net.

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 2007, EMSC provided services to 10.6 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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