MEDNAX, Inc. (MD) posted second quarter profit of $60.54 million or $1.22 per share, up from $55.94 million or $1.15 per share last year.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share. Analysts' estimates typically exclude special items.
Net patient service revenue rose to $449.53 million from $393.4 million in the comparable period a year ago. Analysts expected revenues of $437.33 million.
MEDNAX's revenue growth attributable to contributions from recently acquired practices was 10.4 percent, while same-unit revenue grew by 3.9 percent for the quarter, compared to last year.
Looking forward to the third quarter, MEDNAX expects earnings will be in a range of $1.25 to $1.30 per share. This range assumes that total same-unit revenue for the three months ended September 30, 2012 will grow by 1.0 percent to 3.0 percent from the prior-year period. Analysts expect earnings of $1.26 per share.
Separately, MEDNAX announced the acquisition of Loudoun Anesthesia Associates, a physician group practice that provides anesthesia services at Inova Loudoun Hospital and Inova Loudoun Ambulatory Surgery Center in Leesburg.
This practice was acquired for cash and the deal is anticipated to be immediately accretive to earnings. No additional terms of the transactions were disclosed.
The physicians joining as a result of this transaction will now be part of MEDNAX's American Anesthesiology division.
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