This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IPC The Hospitalist Company Reports Fourth Quarter And Full Year 2012 Results

NORTH HOLLYWOOD, Calif., Feb. 21, 2013 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice, today announced financial results for the fourth quarter and full year ended December 31, 2012.

Fourth Quarter 2012 Highlights (comparisons are to fourth quarter 2011):
  • Net revenue increased 17% to $137.6 million  
  • Patient encounters increased to an all-time high of 1,447,000, an 18% increase  
  • Income from operations increased 16% to $13.8 million, excluding the net change in fair value of contingent consideration  
  • Net income increased 11% to $8.3 million, or $0.49 diluted earnings per share, excluding the net change in fair value of contingent consideration

Twelve Months Ended December 31, 2012 Highlights (comparisons are to twelve months ended December 31, 2011):
  • Net revenue increased 14% to $523.5 million  
  • Patient encounters increased to an all-time high of 5,496,000, a 15% increase  
  • Income from operations increased 15% to $53.0 million, excluding the net change in fair value of contingent consideration  
  • Net income increased 15% to $32.8 million, or $1.93 diluted earnings per share, excluding the net change in fair value of contingent consideration

Adam D. Singer, M.D., Chief Executive Officer of IPC The Hospitalist Company, stated, "We are pleased to report that we once again reached a new milestone in the fourth quarter, with more than 1.4 million patient encounters generating $137.6 million in net revenue, for a 17% increase in net revenue for the quarter. Growth came from both acquisitions and new hires as we continue to build out our platform to meet the growing demand for our services. As of year-end, we had more than 1,410 providers, an increase of 217 since year-end 2011."

Dr. Singer added, "We continue to execute on our strategy of organic hiring and acquisition growth, as demonstrated by the significant number of providers we added during 2012. We completed 15 acquisitions in 2012, and our acquisition pipeline remains healthy, with a significant number of physician practices in both the acute and post-acute areas. In addition, we continue to evaluate opportunities to add to our practices through hospital contracting. We remain confident in our ability to continue to execute our multi-pronged growth plan in 2013 and beyond."

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs