WASHINGTON (dpa-AFX) - HMS Holdings Corp. (HMSY), a provider of cost containment services to government and private healthcare payers and sponsors, Friday reported flat earnings for the first quarter, as higher revenues for the period were offset by increased operating expenses. The firm also lowered its full-year guidance.
The company reported earnings of $7 million or $0.08 per share for the both the comparable quarters. Adjusted earnings per share for the quarter was $0.15. On average, nine analysts polled by Thomson Reuters expected earnings per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.
The company generated revenues of $116.6 million, an increase of 8.7 percent, compared with revenues of $107.3 million reported last year. Analyst estimated revenues of $123.83 million.
Owing to federal procurements, the company said it is lowering its full year outlook. The company revised its revenue guidance to $495 million - $525 million from prior expectations of $570 million - $600 million, and earnings per share outlook to $0.57-$0.63 from $0.63-$0.70. Adjusted earnings per share forecast is updated to $0.89-$0.95 from earlier range of $0.95-$1.02. Analysts estimate the company to report earnings per share of $0.97 per share, on revenues of $570.37 million.
Copyright(c) 2013 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2013 AFX News
