MEDNAX, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015
January 29, 2015 at 06:00 am
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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.
Pediatrix Medical Group, Inc. is a provider of physician services, including newborn, maternal-fetal, pediatric cardiology and other pediatric subspecialty care. The Companyâs affiliated clinicians provide services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Its specialties include obstetrics, maternal-fetal medicine and neonatology, complemented by more than 20 pediatric subspecialties, as well as pediatric primary and urgent care clinics. Its national network comprises over 2,620 affiliated physicians, including 1,330 physicians who provide neonatal clinical care, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications. It has over 580 affiliated physicians who provide maternal-fetal and obstetrical medical care to expectant mothers experiencing complicated pregnancies primarily in areas where its affiliated neonatal physicians practice.
MEDNAX, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015