Psychiatric Solutions, Inc. (PSYS) posted third quarter income from continuing operations attributable to PSI stockholders of $28.1 million or $0.50 per share, compared to $27.9 million or $0.49 per share in the prior year period. Net income attributable to PSI stockholders was $28.1 million or $0.50 per share, compared to $26.3 million or $0.47 per share in last year quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter was $455.3 million, up from $431.7 million in the prior year quarter. PSI's same-facility revenue increased 4.7% for the third quarter of 2009 compared with the third quarter last year.
Wall Street analysts expected revenues of $462.18 million for the quarter.
The company said the increase in revenue primarily reflected a 3.3% increase in patient days and a 1.6% increase in revenue per patient day.
Looking forward, for the fiscal year 2009, the company said it now expects earnings from continuing operations attributable to PSI stockholders per share in a range of $2.11 to $2.14, compared to its prior guidance in the range of $2.16 to $2.24. Street analysts expect earnings of $2.27 per share.
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