MEDNAX, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, net revenue was $650,525,000 against $567,387,000 a year ago. This is driven by a mix of contributions from acquisitions completed since October 2013 and same-unit growth. The revenue growth attributable to contributions from recently acquired practices was 10.1%, while overall same-unit revenue grew by 4.6% when compared to the prior year period. Income from operations was $141,087,000 against $123,917,000 a year ago. Income before income taxes was $138,874,000 against $123,397,000 a year ago. Net income attributable to the company was $88,398,000 or $0.89 per diluted share against $78,974,000 or $0.78 per diluted share a year ago. During the fourth quarter of 2014, the company generated cash flow from operations of $178.8 million, as compared to $139.2 million in the prior year period.

For the full year, net revenue was $2,438,913,000 against $2,154,012,000 a year ago. Income from operations was $512,999,000 against $452,131,000 a year ago. Income before income taxes was $508,616,000 against $448,412,000 a year ago. Net income attributable to the company was $317,281,000 or $3.18 per diluted share against $280,517,000 or $2.78 per diluted share a year ago.

For the first quarter of 2015, the company expects earnings will be in a range of $0.68 to $0.72 per diluted share. This outlook assumes that total same-unit revenue for the three months ended March 31, 2015 will grow by 1% to 3% from the prior-year period, including an approximately 1% unfavorable impact on pricing from the decrease in parity revenue from the 2014 first quarter. Included in the outlook for the 2015 first quarter is approximately $0.02 per diluted share from Medicaid parity, reflecting the impacts from incentive compensation expense and income taxes, compared to $0.04 per share in the 2014 first quarter.