Exhibit 99.1(b)2
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
NDCHealth Corporation and Subsidiaries
(In thousands, except per share data)
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Nine Months Ended
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March 1, February 28,
2002 2001
GAAP Normalized
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Revenues:
Information management $ 110,957 $ 100,557
Network services and systems 166,568 151,353
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277,525 251,910
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Operating expenses:
Cost of service 134,011 125,701
Sales, general and administrative 65,126 56,882
Depreciation and amortization 18,426 25,313
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217,563 207,896
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Operating income 59,962 44,014
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Other income (expense):
Interest and other income 1,140 131
Interest and other expense (7,156) (5,690)
Minority interest in losses 1,680 724
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(4,336) (4,835)
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Income before income taxes and equity in losses of affiliated companies:
Information management 16,762 13,174
Network services and systems 38,864 26,005
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55,626 39,179
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Provision for income taxes 20,025 15,084
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Income before equity in losses of affiliated companies 35,601 24,095
Equity in losses of affiliated companies (340) -
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Net income $ 35,261 $ 24,095
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Basic earnings per share $ 1.04 $ 0.73
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Shares 34,045 32,879
Diluted earnings per share: $ 0.98 $ 0.71
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Shares 39,735 33,936
Normalized results for the nine months ended February 28, 2001
exclude revenues and operating expenses related to divested
businesses of $5.9 million and $5.6 million, respectively, $2.2
million of restructuring and impairment charges primarily
related to consolidation of locations and associated staff and
expense reductions, and income from discontinued operations of
$8.3 million.