Exhibit 99.1 (b) 3
Normalized
CONSOLIDATED STATEMENTS OF INCOME
NDCHealth Corporation and Subsidiaries
(In thousands, except per share data)
Three Months Ended | ||||||||
May 31, 2002 | May 31, 2001 | |||||||
Revenues: | ||||||||
Information management | $ | 40,173 | $ | 37,190 | ||||
Network services and systems | 54,331 | 46,927 | ||||||
94,504 | 84,117 | |||||||
Operating expenses: | ||||||||
Cost of service | 47,588 | 41,504 | ||||||
Sales, general and administrative | 19,369 | 18,663 | ||||||
Depreciation and amortization | 5,948 | 8,420 | ||||||
72,905 | 68,587 | |||||||
Operating income | 21,599 | 15,530 | ||||||
Other income (expense): | ||||||||
Interest and other income | 639 | 624 | ||||||
Interest and other expense | (2,537 | ) | (2,348 | ) | ||||
Minority interest in losses | 183 | 413 | ||||||
(1,715 | ) | (1,311 | ) | |||||
Income before income taxes and equity in losses of affiliated companies | ||||||||
Information management | 7,753 | 5,045 | ||||||
Network services and systems | 12,131 | 9,174 | ||||||
19,884 | 14,219 | |||||||
Provision for income taxes | 7,157 | 5,474 | ||||||
Income before equity in losses of affiliated companies | 12,727 | 8,745 | ||||||
Equity in losses of affiliated companies, net of income taxes | (314 | ) | (299 | ) | ||||
Net income | $ | 12,413 | $ | 8,446 | ||||
Basic earnings per share: | $ | 0.36 | $ | 0.25 | ||||
Shares | 34,260 | 33,970 | ||||||
Diluted earnings per share: | $ | 0.35 | $ | 0.24 | ||||
Shares | 39,331 | 35,368 |
Normalized results for the three months ended May 31, 2001 exclude revenues and operating expenses related to divested businesses of $4.3 million and $4.5 million respectively, and valuation adjustment in Medscape investment of $7.0 million.