February 24, 2011 / 12:12 PM / 6 years ago

CORRECTED-UPDATE 1-SXC Health Solutions Q4 beats estimates

(Corrects throughout to show that Q4 results beat estimates, not missed. Also removes reference to expenses from paragraph 1)

* Q4 adj EPS $0.28 vs est $0.27

* Q4 rev $526.9 mln vs est $516.2 mln

* Sees 2011 EPS $1.35-$1.42

* Sees 2011 rev $3.5-$3.7 bln (Follows alerts)

Feb 24 - SXC Health Solutions Corp posted a quarterly profit that edged past analysts' estimates, and forecast 2011 profit below expectations.

For the fourth quarter, the company posted a net income of $16.6 million, or 26 cents per share, compared with $15.2 million, or 24 cents per share, a year ago.

While revenue grew 19 percent to $526.9 million, cost of revenue in its pharmacy benefits management segment jumped 20 percent to $456.3 million. On a adjusted basis, the company earned 28 cents a share.

Analysts on average expected a profit of $27 cents, before special items, on revenue of $516.2 million, according to Thomson Reuters I/B/E/S.

For 2011, the healthcare information technology provider expects a profit of $1.35 to $1.42, below analysts' average expectation of $1.58.

SXC shares were up 4 percent at $48.78 on Thursday and were up $1.98 to C$47.98 on the Toronto Stock Exchange. (Reporting by Vidya L Nathan; Editing by Don Sebastian)

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