HMS Holdings raises 2009 revenue, earnings outlook
NEW YORK—HMS Holdings Corp., which provides cost recovery services to government health care programs, on Friday raised its guidance for 2009.
The company now predicts earnings of $1 per share on $218 million in revenue, up from a prior forecast for income of 96 cents per share on $214 million in revenue.
Analysts polled by Thomson Reuters predict income of 97 cents per share on $214.9 million in revenue.
For 2008, HMS Holdings said profit rose 43 percent to $21.4 million, or 80 cents per share, from $15 million, or 57 cents per share, in 2007. Revenue increased 26 percent to $184.5 million.
The company also reported its profit climbed in its fiscal fourth quarter.
HMS Holdings also said President and Chief Operating Officer William C. Lucia, 51, will become chief executive March 1. He replaces Robert M. Holster, 62, who will remain as chairman.
Shares of HMS climbed $3.43, or 10.9 percent, to $34.85. The stock earlier peaked at $34.90, topping a 52-week high of $34.47 set Feb. 6.