Tuesday, housekeeping, laundry and food service provider Healthcare Services Group Inc. (HCSG), reported a fourth quarter profit that was almost flat with last year, despite a 5% increase in revenues.
The Bensalem, Pennsylvania-based company's net income for the quarter was $7.28 million or $0.17 per share, compared to net income of $7.31 or $0.17 per share in the prior-year period. Six analysts polled by Thomson Reuters expected the company to earn $0.16 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly revenues grew 5% to $154.56 million from $146.98 million for the same 2008 period. Four analysts estimated revenues of $156.71 million for the quarter.
Net income for fiscal 2008 declined to $26.61 million or $0.60 per share from $29.58 million or $0.67 per share. Analysts anticipated earnings of $0.60 per share for the year.
Revenues for the year rose 4% to $602.72 million from $577.72 million in the previous year. The Street was looking for revenues of $604.71 million for the year.
HCSG closed Tuesday's regular trading at $14.57, down $0.97 or 6.24% on a volume of about 347 thousand shares.
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