Healthcare Services Group Inc. (HCSG) reported that its first-quarter net income increased to $14.9 million or $0.22 per share, from $8.5 million or $0.13 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues for the quarter increased over 5% to $273.90 million compared to $260.60 million for the same 2011 period. Four analysts had a consensus revenue estimate of $281.34 million for the quarter.
Additionally, the company said that its board declared has declared a regular quarterly cash dividend of $0.16750 per common share, payable on June 14, to shareholders of record at the close of business on May 10, 2013. This represents the 40th consecutive quarterly cash dividend payment, as well as the 39th consecutive increase since the company's initiation of quarterly cash dividends in 2003.
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