Christopher A. Holden, President and Chief Executive Officer of AmSurg Corp. (NASDAQ: AMSG), today announced financial results for the third quarter ended September 30, 2012. Revenues for the quarter were $226.4 million, a 16% increase from $194.8 million for the third quarter of 2011. Net earnings from continuing operations attributable to AmSurg common shareholders were $15.4 million, or $0.49 per diluted share, for the third quarter of 2012 compared with $13.0 million, or $0.42 per diluted share, for the third quarter of 2011. The 2011 period included acquisition transaction costs of $0.03 per diluted share. Excluding these costs from the prior year, net earnings from continuing operations per diluted share attributable to AmSurg common shareholders increased 9% for 2012.
Revenues for the first nine months of 2012 increased 23% to $688.2 million from $560.1 million for the first nine months of 2011. Net earnings from continuing operations attributable to AmSurg common shareholders increased to $47.4 million, or $1.50 per diluted share, for the first nine months of 2012 from $37.3 million, or $1.20 per diluted share, for the same period in 2011. The 2011 period included acquisition transaction costs of $0.05 per diluted share. Excluding these costs from the prior year, net earnings from continuing operations per diluted share attributable to AmSurg common shareholders increased 20% for 2012.
Commenting on the announcement, Mr. Holden remarked, “We are pleased with AmSurg’s earnings performance for the third quarter, which met the high end of our guidance. We produced same-center revenue growth for the quarter of 2%, even though there was one less business day in the quarter compared with the third quarter last year. With this extra day, same-center revenue would have increased 3% for the quarter. Our revenue growth also reflected an increase in centers in operation to 229 at the end of the quarter, up from 223 at same time in 2011. Our new centers contributed to an increase in total procedures for the quarter of 8%, while revenue per procedure increased 7%, as multi-specialty centers grew as a percentage of our center mix.
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