Healthcare Services Group Q1 Income Rises, Beats Estimates

(RTTNews) - Healthcare Services Group (HCSG) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $17.228 million, or $0.23 per share. This compares with $15.309 million, or $0.21 per share, last year.

Analysts on average had expected the company to earn $0.19 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 5.7% to $447.662 million from $423.433 million last year.

Healthcare Services Group earnings at a glance (GAAP) :

-Earnings: $17.228 Mln. vs. $15.309 Mln. last year. -EPS: $0.23 vs. $0.21 last year. -Revenue: $447.662 Mln vs. $423.433 Mln last year.

Ted Wahl, CEO of HCSG, said: “First quarter revenue and cash flows were our best results in five years, and we have carried that positive momentum into the second quarter. New client wins drove our organic growth, collections exceeded revenue, and we continued to strengthen our balance sheet.”

Looking ahead, for the full year, the company has reiterated its mid-single digit revenue growth expectations.

HCSG was up by 2.98 percent at $9.69 in the pre-market trade on the Nasdaq.