Catalyst Health Solutions Inc. (CHSI) Tuesday said its profit for the fourth quarter increased from last year, mainly helped by a surge in revenues.
Net income for the fourth quarter advanced to $22.55 million or $0.51 per share from $17.96 million or $0.41 per share last year.
Adjusted earnings for the fourth quarter was $0.56 per share compared to $0.43 per share last year.
On average, ten analysts polled by Thomson Reuters expected earnings of $0.54 per share for the quarter. Analysts' estimate typically excludes one-time items.
Revenue for the fourth quarter increased nearly 50 percent to $1.12 billion from $747.90 million last year, mainly driven by the increase in prescription volume and price inflation on brand drugs.
Fifteen analysts estimated revenues of $1.07 billion for the quarter.
Looking forward, the company backed its adjusted earnings guidance for 2011 of between $2.20 and $2.39 per share. The company also confirmed the full year revenue guidance range of $4.6 billion to $4.8 billion.
Analysts currently expect the company to post $2.33 per share on a revenue of $4.71 billion for the full-year.
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