AmSurg 1Q Revenue Up 2% to $263.1M

AmSurg announced its financial results for the first quarter ended March 31. The company's revenues were $263.1 million, up 2 percent from $258.2 million in the first quarter of 2013.

Net earnings from continuing operations attributable to AmSurg common shareholders were $0.55 per diluted share, or $17.5 million, compared to $0.56 per diluted share, or $17.8 million, in the first quarter of 2013.

"AmSurg's results for the first quarter of 2014, which reflected a 2 percent decline in same-center revenues, were affected materially more by severe weather throughout the quarter than we anticipated in the guidance we established in late February," said CEO Christopher Holden, according to the news release.

In the first quarter, AmSurg acquired one center and divested another. "We completed the first quarter of 2014 with seven letters of intent and had one de novo center under development, which we expect to open in 2015. With a robust pipeline of additional potential transactions, in addition to our letters of intent, we continue to expect to meet our center acquisition guidance for 2014," said Mr. Holden, according to the report.

As of March 31, AmSurg owned and operated 242 centers.

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