Health care facility operator Sun Healthcare Group Inc. reaffirmed its 2008 guidance Wednesday and said it expects profit and revenue to rise in 2009.
The company reaffirmed its estimate for profit between 91 cents and 94 cents per share on revenue of about $1.82 billion in 2008. Analysts polled by Thomson Reuters expect Sun Healthcare to report profit of 92 cents per share on revenue of just under $1.83 billion.
In 2009, the company expects profit of $1.15 to $1.19 per share on revenue between $1.92 billion and $1.93 billion. Analysts expect profit of $1.11 per share on revenue of $1.89 billion.
"We continue to deliver strong margin improvement in this difficult economic environment," said Chairman and Chief Executive Richard K. Matros, in a statement.
He said the 2009 outlook anticipates an average increase in Medicaid rates, though there could be a rate freeze from states looking to control costs.
Shares of Sun Healthcare fell 19 cents to close at $11.68.
via yahoo
The company reaffirmed its estimate for profit between 91 cents and 94 cents per share on revenue of about $1.82 billion in 2008. Analysts polled by Thomson Reuters expect Sun Healthcare to report profit of 92 cents per share on revenue of just under $1.83 billion.
In 2009, the company expects profit of $1.15 to $1.19 per share on revenue between $1.92 billion and $1.93 billion. Analysts expect profit of $1.11 per share on revenue of $1.89 billion.
"We continue to deliver strong margin improvement in this difficult economic environment," said Chairman and Chief Executive Richard K. Matros, in a statement.
He said the 2009 outlook anticipates an average increase in Medicaid rates, though there could be a rate freeze from states looking to control costs.
Shares of Sun Healthcare fell 19 cents to close at $11.68.
via yahoo
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