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Select Medical releases 2013 forecast

By , - Last modified: January 10, 2013 at 9:27 AM

Cumberland County-based Select Medical Holdings Corp. has announced its business outlook for 2013.

The hospital operator expects consolidated net operating revenues from $2.95 billion to $3.05 billion; adjusted EBITDA from $400 million to $415 million; and fully diluted income per common share from $0.98 to $1.04.

According to a Jan. 7 presentation, Select Medical's 2011 net revenue and adjusted EBITDA were $2.8 billion and $386 million respectively. Final results for 2012 are not yet in, but its last 12 months results as calculated at third quarter of 2012 are net revenue of $2.9 billion and adjusted EBITDA of $401 million.

The prediction does not include an estimated negative impact to net operating revenues and adjusted EBITDA of $20 million if congressional action does not prevent sequestration cuts scheduled to occur on or about April 1.

Select Medical said it assumed a 40 percent effective tax rate when preparing the above business outlook for 2013, compared with an effective tax rate of 39.2 percent through the first nine months of 2012.

Select Medical trades its shares on the New York Stock Exchange under the ticker symbol SEM.

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