Pediatrix Expects 2003 Second Quarter EPS of 82 Cents
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 2, 2003--Pediatrix Medical Group, Inc, (NYSE:PDX) today announced that, based on preliminary information, it expects to report earnings per share for the three months ended June 30, 2003, of approximately 82 cents. The Company had previously provided earnings guidance of 78 to 80 cents per share for the 2003 second quarter. Pediatrix attributes the higher earnings to greater-than-expected revenue for the quarter.
In addition, Pediatrix has approximately $25 million remaining under its currently authorized share repurchase program. Pediatrix expects to continue to make open market purchases of its common stock under its current program as general economic and market conditions permit. In addition, depending on such conditions, the Company's Board of Directors may determine to increase the amount authorized under the share repurchase program.
Pediatrix will announce complete results of operations for the second quarter of 2003, as well as updated earnings guidance, on Wednesday, August 6, 2003. The Company will issue a press release prior to the market open and members of the senior management team will host a conference call at 11 a.m. EDT on August 6, 2003. Investors will be able to access the conference call by logging on to Pediatrix's website, http://www.pediatrix.com.
Pediatrix was founded in 1979. Its neonatal physicians provide services at more than 200 NICUs, and through Obstetrix, its perinatal physicians provide services in many markets where Pediatrix's neonatal physicians practice. Combined, Pediatrix and its affiliated professional corporations employ more than 630 physicians in 30 states and Puerto Rico. Additional information is available on the Internet at http://www.pediatrix.com.
Matters discussed in this release may include forward-looking statements within the meaning of the securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Pediatrix intends, expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions and assessments made by Pediatrix's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be relevant. Any forward-looking statement is not a guarantee of future performance and is subject to various risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statement. Such risks and uncertainties include, among others: pending and future billing and other investigations by government authorities; Pediatrix's ability to comply with laws and regulations applicable to the healthcare industry; limitations of, reductions in or retroactive adjustments to reimbursement amounts or rates by government-sponsored healthcare programs; whether physicians appropriately record the services they provide; Pediatrix's ability to find suitable acquisition candidates and to successfully integrate future or recent acquisitions; laws protecting the privacy of patient healthcare information; federal and state healthcare reform or changes in government-sponsored healthcare programs; Pediatrix's ability to successfully recruit and retain qualified physicians; malpractice and other lawsuits; the value of Pediatrix's intangible assets, such as goodwill; Pediatrix's ability to manage growth; fluctuations in quarterly results; and competition in the healthcare industry.
Pediatrix more fully describes these and other risk factors in its Annual Report on Form 10-K for the year ended December 31, 2002, filed with the Securities and Exchange Commission. Any forward-looking statements in this press release are made as of the date hereof based on management's current beliefs and expectations and Pediatrix has no obligation to update and revise any such statements, whether as a result of new developments, information or otherwise.
CONTACT: Pediatrix, Fort Lauderdale Bob Kneeley, 954/384-0175, x-5300 firstname.lastname@example.org SOURCE: Pediatrix