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PharMerica Reports Results For The Fourth Quarter Of 2012 And Year Ended December 31, 2012

PharMerica calculates and uses adjusted diluted earnings per share, exclusive of the impact of merger, acquisition, integration costs and other charges, the impact of the impairment charge, impact of the Hurricane Sandy disaster costs, and the impact of tax accounting matters, as an indicator of its core operating results. The measurement is used in concert with net income and diluted earnings per share, which measure actual earnings per share generated in the period. PharMerica believes the exclusion of these charges in expressing adjusted diluted earnings per share provides management with a useful measure to assess period to period comparability and is useful to investors in evaluating PharMerica’s operating results from period to period. Adjusted diluted earnings per share, exclusive of the impact of merger, acquisition, integration costs and other charges, the impact of the impairment charge, impact of the Hurricane Sandy disaster costs, and the impact of tax accounting matters, do not represent the amount that effectively accrues directly to stockholders (i.e., such costs are a reduction in earnings and stockholders’ equity) and is not intended to represent or to be used as a substitute for diluted earnings per share as measured under GAAP. The impact of merger, acquisition, integration costs and other charges, the impact of the impairment charge, impact of the Hurricane Sandy disaster costs, and the impact of tax accounting matters excluded from the diluted earnings per share are significant components of the accompanying unaudited condensed consolidated income statements and must be considered in performing a comprehensive assessment of overall financial performance.

PHARMERICA CORPORATION

SUPPLEMENTAL INFORMATION (Continued)

Supplemental Information

Effective January 1, 2013, we will be redefining our Adjusted EBITDA. In addition to adding back to net income interest expense, the provision for income taxes, depreciation, amortization, the impact of Hurricane Sandy disaster costs, merger, acquisition, integration costs and other charges and impairment of intangibles; we will also be adding back the non-cash impact of stock-based and deferred compensation.

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