AmSurg Q1 Profit Drops; Cuts FY14 EPS Outlook - Quick Facts

(RTTNews) - AmSurg Corp. (AMSG) Tuesday reported first-quarter net income attributable to company shareholders of $17.2 million or $0.54 per share, compared to $17.8 million or $0.56 per share in the same period last year.

Net earnings from continuing operations attributable to AmSurg common shareholders declined to $17.5 million or $0.55 per share, compared to $17.8 million or $0.56 per share in the prior year quarter.

Excluding gains, net earnings from continuing operations per share attributable to AmSurg common shareholders for the first quarter of 2014 were $0.53 compared with $0.52 for the first quarter of 2013. On average, ten analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 2 percent to $263.11 million from $258.19 million last year. Analysts expected revenues of $271.72 million.

Looking ahead to the second quarter, the company has forecast earnings from continuing operations in a range of $0.61 to $0.64 per share. Analysts currently expect first-quarter earnings of $0.64 per share.

For the fiscal 2014, the company now expects earnings to be in the range of $2.41 to $2.45 per share and revenues in a range of $1.12 billion to $1.13 billion. Analysts currently expect the company to report full-year earnings of $2.47 per share on revenues of $1.15 billion.

Earlier, the company expected earnings to be in the range of $2.45 to $2.49 per share and revenues in a range of $1.12 billion to $1.15 billion.