Nashville-based ambulatory surgery center developer and operator AmSurg reported earnings that were down 11.5 percent in the second quarter compared to the same period last year, according to a Nashville Business-Journal report.
Earnings were $11.6 million, or 38 cents per basic share, on revenue of $188.7 million. Analysts had estimated average earnings of 41 centers per share on revenue of $188.4 million, according to the report.
As of June 30, AmSurg owned a majority interest in 208 continuing centers in operation and had one center under development.
"We are pleased to see modest strengthening in our comparable-0quarter performance for the second quarter versus the first quarter, but our procedure volumes, revenues, margins and earnings continue to be negatively affected by the weak national economy and high unemployment," said AmSurg CEO Christopher Holden in the report. "Our revenue growth for the second quarter, which reflected a 7 percent increase in procedures, was produced largely from the expansion of our centers in operation during the previous year, to 208 at the end of the second quarter of 2011 from 197 at the same time in 2010."
Read the Nashville Business-Journal report on AmSurg.
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Earnings were $11.6 million, or 38 cents per basic share, on revenue of $188.7 million. Analysts had estimated average earnings of 41 centers per share on revenue of $188.4 million, according to the report.
As of June 30, AmSurg owned a majority interest in 208 continuing centers in operation and had one center under development.
"We are pleased to see modest strengthening in our comparable-0quarter performance for the second quarter versus the first quarter, but our procedure volumes, revenues, margins and earnings continue to be negatively affected by the weak national economy and high unemployment," said AmSurg CEO Christopher Holden in the report. "Our revenue growth for the second quarter, which reflected a 7 percent increase in procedures, was produced largely from the expansion of our centers in operation during the previous year, to 208 at the end of the second quarter of 2011 from 197 at the same time in 2010."
Read the Nashville Business-Journal report on AmSurg.
Related Articles on AmSurg:
56 ASC Management and Development Company CEOs to Know
AmSurg Names Cindy Miller to Board of Directors
AmSurg Revenue Up, Profits Decline on Medicare Payment Revisions