AmSurg 4th-quarter profit grew primarily due to 14 recently acquired facilities

AmSurg 4Q profit rises 4 percent on acquisitions

NASHVILLE, Tenn. — Outpatient surgery center operator AmSurg Corp. said Wednesday its profit grew 4 percent in the fourth quarter due to revenue from facilities it acquired during the past year.

The company earned $12.1 million, or 40 cents per share, up from $11.7 million, or 37 cents per share, a year earlier. Revenue grew 10 percent to $168.6 million from $153.1 million. According to Thomson Reuters, analysts expected a profit of 42 cents per share and $169 million in revenue.

AmSurg said it acquired or opened 14 centers in 2009, including eight in the fourth quarter. It said procedures performed at its facilities rose 10 percent compared to a year ago. Despite reductions in Medicare reimbursement rates, revenue from centers that have been run by AmSurg for at least one year grew 1 percent.

The company had 202 centers operating as of Dec. 31.

For the full year, AmSurg reported a profit of $52.1 million, or $1.69 per share, in 2009. That’s an increase of 11 percent from the $47 million, or $1.47 per share, it earned in 2008. revenue increased 11 percent, to $668.8 million from $600.1 million.

Looking ahead to 2010, the company is forecasting a profit of $1.77 to $1.80 per share from continuing operations and $720 million to $750 million in revenue. Analysts project $1.81 per share in profit and revenue of $728 million.

AmSurg said it will earn between 41 cents and 43 cents per share in the first quarter. Analysts are looking for 44 cents per share.

In after-hours trading, shares of AmSurg fell 79 cents, or 3.7 percent, to $20.50, from the regular close of $21.29.