AmSurg Reports Fourth-Quarter Net Earnings From Continuing Operations Of $0.49 Per Diluted Share

Christopher A. Holden, President and Chief Executive Officer of AmSurg Corp. (NASDAQ: AMSG), today announced financial results for the fourth quarter and year ended December 31, 2012. Revenues increased 10% for the quarter to $244.2 million from $221.1 million for the fourth quarter of 2011. Net earnings from continuing operations attributable to AmSurg common shareholders were $15.7 million, or $0.49 per diluted share, for the fourth quarter of 2012 compared with $13.6 million, or $0.43 per diluted share, for the fourth quarter of 2011. The 2011 period included acquisition transaction costs of $0.02 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 the fourth quarter of 2012.

Revenues for the year ended December 31, 2012 increased 19% to $928.5 million from $777.6 million for 2011. Net earnings from continuing operations attributable to AmSurg common shareholders increased to $62.6 million, or $1.98 per diluted share, for 2012 from $50.4 million, or $1.61 per diluted share, for 2011. Included in results for 2011 were acquisition transaction costs of $0.07 per diluted share. Excluding these costs from 2011, net earnings from continuing operations per diluted share attributable to AmSurg common shareholders increased 19% for 2012.

Mr. Holden said, “We are pleased with AmSurg’s operating and financial performance for the fourth quarter, which produced same-center revenue growth of 3% for the quarter and for all of 2012, up from 1% for the comparable periods in 2011. Our fourth-quarter earnings included a negative impact from Hurricane Sandy of an estimated $0.01 per diluted share. In addition, our acquisition strategy contributed significantly to our 19% growth in revenue and earnings per diluted share for full-year 2012 and, through a record level of activity in the fourth quarter, will continue to fuel our growth in 2013. We completed the acquisition of 14 centers during the fourth quarter that generate a record $60 million in annualized operating income, all of which were single-center transactions.

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