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NASHVILLE, Tenn.--(BUSINESS WIRE)--Dec. 17, 2003--Renal Care Group,
Inc. (NYSE:RCI) today clarified its guidance for fiscal year 2003. As
previously announced, the Company's non-GAAP earnings per share for the
three quarters ended September 30, 2003, was $1.55, before giving effect
to the retirement package for former chairman Mr. Sam Brooks. The Company
stated today that its earnings per share expectation for fourth quarter
2003 is between $0.55 and $0.57. As a result, the Company expects to
achieve earnings per share of between $2.10 and $2.12 for the full year.
In October 2002, the Company provided its earnings per share objective
for fiscal 2003 of between $2.06 and $2.10.
Commenting on the Company's corporate objectives for 2004, Mr. Gary
Brukardt, president and chief executive officer, said, "As previously
announced, our earnings per share objective for 2004 is between $2.40
and $2.50, assuming that we complete the repurchase of $250 million of
our common stock before the end of first quarter 2004. Based on our repurchases
since November 4, 2003, we expect to reach that target."
Renal Care Group is a specialized dialysis services company that provides
care to patients with kidney disease. The Company currently treats over
21,300 patients in more than 270 owned outpatient dialysis facilities,
in addition to providing acute dialysis services at more than 120 hospitals.
Over 6,500 associates provide services across the Company's 27-state
network. More information about Renal Care Group, Inc. can be found at
http://www.renalcaregroup.com.
Certain statements in this press release, including those of Mr. Brukardt,
and statements about the Company's earnings expectation for fourth quarter
2003 and full fiscal year 2003, constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements, which are usually preceded by words
like expect, plan, intend, will and the like, include statements regarding
our clinical and financial objectives for 2004, our plans for repurchases
of common stock under our stock repurchase program and any other statements
that necessarily depend on future events. These forward-looking statements
reflect management's expectations and are based upon currently available
information. These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause actual results,
performance or achievements of Renal Care Group to differ materially
from those expressed in or implied by the forward-looking statements,
including risks related to: changes in the Medicare and Medicaid programs;
payment reductions by private insurers, hospitals or managed care organizations;
changes in the health care delivery, financing or reimbursement systems;
risks related to the drug Epogen (EPO); compliance with health care and
other applicable laws; the integration of acquired companies; and dependence
on executive officers. These and other factors affecting the Company
are discussed in more detail in Renal Care Group's reports filed with
the Securities and Exchange Commission, including without limitation
Renal Care Group's most recent annual report on Form 10-K and any quarterly
reports on Form 10-Q filed after that annual report. Copies of these
filings are available from Renal Care Group upon request.
CONTACT:
Renal Care Group, Inc., Nashville
Terry L. Proveaux, 615-345-5577
tproveaux@renalcaregroup.com
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