MedAssets Q3 Profit Rises; Adjusts 2014 Outlook - Quick Facts

(RTTNews) - MedAssets Inc. (MDAS) reported third-quarter net income of $7.74 million or $0.13 per share, up from $6.90 million or $0.11 per share in the comparable quarter last year.

Excluding items, adjusted earnings for the quarter was $0.34 per share, compared to last year's $0.31 per share. On average, 22 analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 5.6 percent to $175.7 million from $166.4 million in the prior-year quarter. Analysts expected revenue of $175.51 million for the quarter.

Looking ahead to fiscal 2014, MedAssets now forecasts earnings in a range of $0.49 to $0.53 per share, adjusted earnings of $1.34 to 1.38 per share, and revenues of $715.0 to 721.0 million.

Earlier, the company forecast full-year earnings of $0.55 to $0.63 per share, adjusted earnings in range of $1.32 to $1.40 per share, and total revenue of $698.0 million to $710.0 million.

Street is currently looking for full-year 2014 earnings of $1.35 per share on revenue of $703.88 million.