Team Health News Release (10/31/12)
Team Health Holdings Inc. has announced results for the third quarter of 2012. Net revenue increased 21.6% to $539.2 million from $443.6 million in the third quarter of 2011. Acquisitions contributed 14.3%, new contracts net of terminations contributed 4.4%, and same contracts contributed 2.9% to the net revenue growth. Reported net earnings were $20.5 million compared with net earnings of $15.3 million in the third quarter of 2011.
Net revenue in the nine months ended Sept. 30, 2012, increased 18.8% to $1.52 billion from $1.28 billion for the same period of 2011. Acquisitions contributed 11.0% of the growth, and new contracts, net of terminations, contributed 4.3% of the growth. Same contract revenue contributed 3.5% of the growth in net revenue. Same contract revenue for the nine months ended Sept. 30 increased $44.7 million, or 4.0%, to $1.17 billion from $1.13 billion in the same period a year ago. Reported net earnings were $49.0 million in the nine months, compared with net earnings of $52.2 million in the same period of 2011.