Ndchealth (NDC) 8-K Financial statements and exhibits

Exhibit 99.1 (b) 4

Normalized

CONSOLIDATED STATEMENTS OF INCOME

NDCHealth Corporation and Subsidiaries

(In thousands, except per share data)

	Year Ended
	May 31, 2002			May 31, 2001
Revenues:
Information management	$	150,399		$	136,616
Network services and systems		198,622			176,015
		349,021			312,631
Operating expenses:
Cost of service		172,703			154,496
Sales, general and administrative		74,696			71,081
Depreciation and amortization		23,951			31,615
		271,350			257,192
Operating income		77,671			55,439
Other income (expense):
Interest and other income		1,779			755
Interest and other expense		(9,693	)		(8,038	)
Minority interest in losses		1,863			1,137
		(6,051	)		(6,146	)
Income before income taxes and equity in losses of affiliated companies:
Information management		25,314			18,225
Network services and systems		46,306			31,068
		71,620			49,293
Provision for income taxes		25,781			18,978
Income before equity in losses of affiliated companies		45,839			30,315
Equity in losses of affiliated companies, net of income taxes		(2,064	)		(751	)
Net income	$	43,775		$	29,564
Basic earnings per share	$	1.28		$	0.90
Shares		34,087			33,009
Diluted earnings per share:	$	1.23		$	0.87
Shares		39,636			34,153

Normalized results for the year ended May 31, 2002 exclude revenues and operating expenses related to divested businesses of $4.4 million and $4.9 million respectively. For the year ended May 31, 2001 normalized results exclude revenues and operating expenses related to divested businesses of $24.4 million and $23.9 million, respectively, valuation adjustment in Medscape investment of $7.0 million, restructuring and impairment charges primarily related to consolidation of locations and associated staff and expense reductions of $2.2 million, and discontinued operations of $8.3 million.