Select Medical Holdings Corp. (SEM) reported first-quarter net income attributable to the company of $41.5 million or $0.29 per share, compared to $33.7 million or $0.22 per share last year.
On average, eight analysts polled by Thomson Reuters expected earnings of $0.25 per share for the quarter. Analysts' estimate typically excludes one-time items.
Net operating revenues for the quarter increased 7.3 percent to $744.02 million from $693.19 million in the same quarter last year, while seven analysts estimated revenues of $720.43 million for the quarter.
Looking forward, the company expects income per share for full year 2012 to be in the range of $0.86 to $0.94 and consolidated revenue in the range of $2.85 billion to $2.95 billion. Analysts currently expect earnings of $0.90 per share and revenue of $2.91 billion for the full year.
Further, the board of directors of Select Medical authorized an increase of $100.0 million in the capacity of its common stock repurchase program from $150.0 million to $250.0 million. The program will remain in effect until March 31, 2013, unless extended by the board of directors.
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