NASHVILLE, Tenn., Nov. 9, 2011 /PRNewswire/ --
Emdeon Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, today announced financial results for the third quarter ended September 30, 2011, as summarized below: (In millions, except per share amts)
3Q 113Q 10% ChangeRevenue
.6-5.3%Earnings per share (diluted)
.040.0%Non-GAAP Adjusted EBITDA
.515.3%Non-GAAP Adjusted EPS
.2313.0%Non-GAAP fully diluted shares
124.2122.61.3%"We are pleased with our financial results for the third quarter. Our initiatives to address emerging areas of opportunity in payment integrity, clinical information exchange and the government space are resonating with our customer base," said George Lazenby, Emdeon's chief executive officer. "We are also excited about moving our business strategy forward with Blackstone and Hellman & Friedman, whose in-depth understanding of our business and industry will be beneficial as we continue to evolve our solutions to make healthcare more efficient."
Third quarter revenue was $282.1 million, an increase of 14.7%, compared to $245.9 million for the same period in 2010, as a result of recent acquisitions and organic growth. GAAP operating income for the third quarter of 2011 was $23.0 million compared to $27.9 million for the same period in 2010, a decrease of 17.6%. This decrease was primarily due to higher depreciation and amortization expense from 2010 acquisitions and capital expenditures, as well as higher equity compensation expense. Third quarter Non-GAAP Adjusted EBITDA grew 15.3% to $76.7 million, or 27.2% of revenue, from Non-GAAP
|SOURCE Emdeon Inc.|
Copyright©2010 PR Newswire.
All rights reserved