April 26, 2012 / 10:09 PM / 6 years ago

UPDATE 1-HealthSouth results beat on higher patient volumes

* Q1 EPS from cont ops $0.40 vs est $0.37

* Q1 rev $538.6 mln vs est $525.8 mln

* Sees FY12 EPS from cont ops higher than previous forecast

* Expects to open at least four new hospitals in 2013

April 26 (Reuters) - Rehabilitation hospital operator HealthSouth Corp posted a quarterly profit above analysts’ estimates on a rise in patient volumes, and said it expects a full-year higher than its previous forecast.

The company now expects income from continuing operations to be at the high end of, or higher than, its previous forecast of $1.32-$1.39 per share for the full year.

Analysts are expecting a full-year profit of $1.42 per share, according to Thomson Reuters I/B/E/S.

First-quarter net income from continuing operations fell to $57.2 million, or 40 cents per share, from $74.0 million, or 57 cents per share, a year ago.

Analysts had expected earnings of 37 cents per share.

Revenue rose 6 percent to $538.6 million, above the $525.8 million analysts had expected.

Patient discharges rose 6 percent and net patient revenue per discharge increased 2.2 percent, the company said.

HealthSouth expects to open at least four new hospitals in 2013, chief executive Jay Grinney said in a statement.

The company’s shares, which have risen 6 percent in the last three months, were down marginally in trading after the bell. They had closed at $21 on Thursday on the New York Stock Exchange.

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