HMS Holdings (HMSY)

[nuketheshorts]

HMS Holdings Corp. Announces Third Quarter 2010 Results, 2010 Revised Guidance and Initial 2011 Guidance
Hms Holdings Corp (MM) (NASDAQ:HMSY)
Historical Stock Chart

1 Month : October 2010 to November 2010
Click Here for more Hms Holdings Corp (MM) Charts.

HMS Holdings Corp. (NASDAQ: HMSY) today announced its financial results for the third quarter of 2010.

For the quarter ended September 30, 2010 revenue increased 35.3% to $80.0 million, compared with $59.2 million for the same period a year ago. Net income for the quarter was $11.0 million or $0.39 per diluted common share compared to net income of $8.4 million or $0.30 per diluted common share for the same period a year ago.

For the nine months ended September 30, 2010, HMS reported revenue of $215.7 million, an increase of $52.8 million or 32.4% from the $162.9 million for the same period a year ago. HMS reported net income of $27.7 million (+33.8%) or $0.98 (+30.7%) per diluted common share for the nine months ended September 30, 2010, compared to net income of $20.7 million or $0.75 per diluted common share for the same period a year ago.

“HMS continues to make steady progress against our strategic objectives,” said Bill Lucia, Chief Executive Officer. “Our success this quarter demonstrates our ability to execute on our multi-year plan. The important decisions incorporated in that plan—including investing in program integrity and the employer market— together with the advent this year of healthcare reform, have placed us on a continuum of growth that we believe will carry us through the next several years.”

Guidance for 2010 and 2011

The Company has increased its 2010 guidance from $290.0 million in revenue and $1.38 in fully diluted EPS to $300 million (+30.9%) in revenue and $1.40 (+28.4%) in fully diluted EPS.

The Company also announced its initial guidance for 2011. Revenue is projected to grow to $370 million (+23.3% over revised 2010 guidance) and fully diluted EPS is projected to increase to $1.74 (+24.3% over 2010 revised guidance).

HMS will be hosting its third quarter 2010 conference call and webcast with the investment community on Friday, October 29, 2010 at 9:00 am Eastern Time. Individuals can access the webcast at http://investor.hms.com or listen to the call at 1-866-293-8970. International participants can listen to the call at 1-913-312-6696.

The webcast will be archived on the website. Individuals can access the webcast at http://investor.hms.com or listen to the replay at 1-888-203-1112. International participants can listen to the replay at 1-719-457-0820. The passcode is 1056454. The replay will be available at 12 p.m. ET on October 29 through midnight on November 5, 2010.

The HMS Form 10-Q for the quarter September 30, 2010 will be filed and available on our website on http://investor.hms.com or about November 10, 2010, and will contain additional information about our results of operations for the fiscal year-to-date. This press release and the interim financial statements herein will be available at http://investor.hms.com for at least a 12-month period. Shareholders and interested investors are welcome to contact Investor Relations at 212-857-5986.

HMS (NASDAQ: HMSY) is the nation’s leader in coordination of benefits and program integrity services for payors of healthcare services. HMS’s clients include health and human services programs in more than 40 states; commercial programs, including commercial plans, employers, and over 100 Medicaid managed care plans; the Centers for Medicare & Medicaid Services (CMS); and Veterans Administration facilities. As a result of the Company’s services, clients recover over $1 billion annually, and save billions of dollars more in erroneous payments.