IPC The Hospitalist Company Q1 Profit Slightly Decreases - Quick Facts

(RTTNews) - IPC The Hospitalist Company, Inc. (IPCM) reported first-quarter net income of $10.27 million or $0.58 per share, compared to $10.50 million or $0.61 per share, previous year. Adjusted net income was $10.0 million, or $0.57 per share, for the quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Net revenue increased 13% to $172.73 million from $153.09 million. Analysts expected revenue of $183.00 million for the quarter. Same-market area net revenue growth was 8%. Patient encounters for the three months ended March 31, 2014 increased by 11.9%, year-over-year.

The company reaffirmed its guidance for the full year 2014 and expects revenue to be in the range of $720 million to $732 million, and adjusted earnings per share to be in the range of $2.41 to $2.51. Analysts expect the company to report 2014 profit per share of $2.47 on revenue of $725.88 million.