MedAssets Q2 Adj. Earnings Beat View; But Lowers 2014 Outlook - Quick Facts

(RTTNews) - MedAssets Inc. (MDAS) reported second-quarter net income of $6.60 million or $0.11 per share, up from $5.08 million or $0.08 per share in the comparable quarter last year.

Adjusted earnings for the quarter were flat with last year at $0.30 per share. On average, 24 analysts expected earnings of $0.29 per share for the quarter. Analysts; estimates typically exclude special items.

Total revenue for the quarter grew 3 percent to $175.42 million from $170.74 million in the prior-year quarter. Analysts expected revenue of $175.68 million for the quarter.

Looking ahead to fiscal 2014, MedAssets now forecasts earnings in a range of $0.55 to $0.63 per share, adjusted earnings of $1.32 to 1.40 per share, and revenues of $698.0 to 710.0 million.

Earlier, the company forecast full-year earnings of $0.56 to $0.66 per share, adjusted earnings in range of $1.33 to $1.43 per share, and total revenue of $700.0 million to $714.0 million. Analysts currently expect earnings of $1.37 per share for the year on revenue of $705.85 million.