Vanguard Health Systems, Inc. (VHS) Tuesday reported third-quarter net income of $21.3 million or $0.26 per share, down from $44.0 million or $0.55 per share in the same quarter last year.
Meanwhile, total revenues for the quarter fell to $1.49 billion from $1.58 billion in the prior year.
Analysts polled by Thomson Reuters expected earnings of $0.24 per share on revenues of $1.58 billion for the quarter.
Looking ahead to fiscal year 2013, the company cut its earnings out look to $59 million to $65 million or $0.71 to $0.78 per share, from its prior estimate of in a range between $62 million and $77 million, or $0.74 to $0.93 per share.
Analysts currently expect earnings of $0.79 per share for the full year.
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