Emdeon’s 3rd-quarter loss widens on higher expenses, income taxes
By APTuesday, November 10, 2009
Emdeon 3Q loss widens on costs
ELMWOOD PARK, N.J. — Emdeon Corp., which provides financial and clinical services to the health care industry, said Tuesday its third-quarter loss widened on higher expenses and a boost in income tax costs.
The company lost $7.2 million, or 9 cents per share, compared with a loss of $1.2 million, or 2 cents per share, during the same period a year prior. Excluding equity compensation and income tax expenses, the company said it earned 21 cents per share.
Revenue rose to $235.5 million from $212.8 million.
Analysts polled by Thomson Reuters expected profit of 19 cents per share on revenue of $233.9 million.
Looking ahead, the company expects adjusted profit between 80 cents and 86 cents per share on revenue between $915 million and $925 million. Analysts expect profit of 80 cents per share on revenue of $918.5 million.
Shares of Emdeon fell $1.07, or 6.6 percent, to $15.13 in after-hours trading after closing at $16.20.
