MEDNAX Q3 Profit Rises - Quick Facts

(RTTNews) - MEDNAX, Inc. (MD), the national medical group specializing in neonatal, anesthesia, maternal-fetal, pediatric cardiology, and other pediatric physician services, reported third-quarter net income to company of $86.2 million or $0.86 per share, compared to $77.0 million, or $0.76 per share, prior year.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.85 for the quarter. Analysts' estimates typically exclude special items.

Net revenue increased by 12.9 percent, to $626.5 million, from $554.7 million for the comparable prior-year period, driven by a mix of contributions from acquisitions and same-unit growth. Analysts expected revenue of $619.61 million for the quarter.

MEDNAX expects fourth-quarter earnings will be in a range of $0.83 to $0.87 per share. The outlook assumes that total same-unit revenue growth for the three months ended December 31, 2014 will grow by two percent to four percent from the prior-year period. Analysts expect the company to report fourth-quarter earnings per share of $0.88.

MEDNAX also announced its Board has authorized the repurchase of up to an additional $600 million of the company's common stock. This authorization is incremental to the existing authorization to repurchase its common stock up to an amount sufficient to offset the dilutive impact from the issuance of shares under equity programs.