Emdeon 3Q loss widens on costs

AP News
Posted: Nov 10, 2009 6:50 PM

Emdeon Corp., which provides financial and clinical services to the health care industry, said Tuesday its third-quarter loss widened on higher expenses and a boost in income tax costs.

The company lost $7.2 million, or 9 cents per share, compared with a loss of $1.2 million, or 2 cents per share, during the same period a year prior. Excluding equity compensation and income tax expenses, the company said it earned 21 cents per share.

Revenue rose to $235.5 million from $212.8 million.

Analysts polled by Thomson Reuters expected profit of 19 cents per share on revenue of $233.9 million.

Looking ahead, the company expects adjusted profit between 80 cents and 86 cents per share on revenue between $915 million and $925 million. Analysts expect profit of 80 cents per share on revenue of $918.5 million.

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Shares of Emdeon fell $1.07, or 6.6 percent, to $15.13 in after-hours trading after closing at $16.20.