ExamWorks Turns To Profit In Q3, Results Beat View; Lifts 2014 Outlook

(RTTNews) - ExamWorks Group, Inc. (EXAM), a provider of independent medical examinations, reported third-quarter net income of $3.42 million or $0.08 per share, compared to net loss of $2.25 million or $0.06 per share in the same period last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew 34 percent to $204.1 million from $152.4 million last year, while analysts expected revenues of $195.66 million.

Looking ahead to the fourth quarter, ExamWorks forecast revenues in a range of $192 million and $198 million, including an estimated $2 million unfavorable impact due to currency as compared to prior year reported revenues.

This guidance implies a growth rate on an as reported basis ranging between approximately 21 percent and 25 percent. Street expects the company to report revenues of $193.54 million.

For fiscal 2014, ExamWorks raised its outlook for revenue growth to a range of 24 percent of 25 percent, compared to the prior range of growth between 22.5 percent and 24.5 percent. Analysts currently expect full-year revenues to grow 23.2 percent to $758.69 million.