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MedAssets Reports Third Quarter And Nine Month 2012 Financial Results

MedAssets, Inc. (NASDAQ: MDAS) today announced results for its third quarter and nine-month periods ended September 30, 2012. Third quarter results are summarized in the table below:
 

($ in millions, except per share)
   

3Q-12
 

3Q-11
 

% Change
Net Revenue:
Spend and Clinical Resource Mgmt (SCM) $ 99.1 $ 90.4 9.6 %
Revenue Cycle Management (RCM)   64.3   53.1   21.1  
Total Net Revenue 163.4 143.6 13.9 %
Non-GAAP acquisition-related purchase
accounting revenue adjustments a   --   0.2   nm
Total non-GAAP Net Revenue b 163.4 143.7 13.7 %
Net income (loss) 5.5 (1.0 ) nm
Earnings (loss) per share (EPS) – diluted 0.09 (0.02 ) nm
Non-GAAP adjusted EBITDA 57.0 45.2 26.0 %
Non-GAAP adjusted EPS - diluted $ 0.32 $ 0.26 23.1
Weighted average shares - diluted c 59.5 57.4 3.7 %

 

 

(a) Non-GAAP acquisition-related purchase accounting revenue adjustments reflect net revenue that would have been recognized after completion of the Broadlane acquisition if not for the GAAP-related purchase accounting revenue adjustments. A detailed explanation is provided under “Use of Non-GAAP Financial Measures” following the accompanying financial schedules.

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