AmSurg Corp. has announced its financial results for the first quarter on 2012, highlighted by a reported increase in net earnings of 35 percent for the quarter, according to a news release.
Net earnings from continuing operations attributable to AmSurg common shareholders rose to $15.7 million for the first quarter of 2012 from $11.6 million for the first quarter of 2011. Revenues for the quarter increased 30 percent to $230.2 million versus $177.7 million in the prior year quarter.
"We are pleased to report that AmSurg produced stronger than expected profitable growth for the first quarter of 2012," said Christopher Holden, president and CEO of AmSurg, in the release. "Our revenue growth was driven by a 5 percent increase in same-center revenues and the addition of 27 centers during 2011, consisting of 26 acquired centers and one de novo center. We also acquired two additional centers during the first quarter of 2012, one of which we combined with an existing center. We added two centers to our discontinued operations during the first quarter and at the end of the quarter, we had one center under development, which is expected to open in the second quarter of 2012, and one center under letter of intent."
The 5 percent increase in same-center revenues is the company's best quarterly same-center performance since 2007, according to Mr. Holden.
Related Articles Featuring AmSurg:
AmSurg Acquisitions Spark Company Growth, Need for Larger Headquarters
Addition of New Surgery Centers Drives AmSurg Revenue Growth in 2011
AmSurg Revenue Increases 12% in 2011