Medical services provider MEDNAX, Inc. (MD) Thursday reported net income of $55.36 million or $1.10 for the first quarter, up from $48.35 million or $0.98 per share last year citing strong revenue growth, primarily from recent acquisitions. Earnings per share were higher than Street estimates. The firm further provided outlook for the second quarter.
Fifteen analysts on average polled by Thomson Reuters estimated earnings per share of $1.09 for the period. Analysts estimates typically exclude one-time items.
The company clocked net patient service revenue of $502.71 million, up from $422.61 million last year. Analysts were looking for higher revenue of $504.17 million for the period.
Looking forward, the company sees second quarter earnings per share in the range of $1.32 to $1.37. Currently analysts are looking for earnings per share of $1.39 for the coming quarter.
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