ExamWorks Group, Inc. (EXAM) Reports Q1 Loss of $0.01, Raises FY Guidance

ExamWorks Group, Inc. (NYSE: EXAM) reported Q1 EPS of ($0.01), versus ($0.10) reported last year. Revenue for the quarter came in at $176.7 million versus the consensus estimate of $166.64 million.

Business Outlook

ExamWorks is providing the following business outlook for the second quarter and full year of 2014:

Second quarter 2014 reported revenues are expected to range between $182 million and $188 million and include an estimated $2 million favorable impact due to currency as compared to prior year reported revenues. This guidance implies a growth rate on an as reported basis ranging between approximately 16% and 20%. Organic growth on a constant currency basis is expected to range between 7% and 10%.

Second quarter 2014 reported adjusted EBITDA margin is expected to range between 16.6% and 17.0% of reported revenues.

Raising our guidance, our full year 2014 reported revenues are now expected to increase between 14.0% and 16.0% from our 2013 reported revenues of approximately $616.0 million. Organic growth, on a constant currency basis, is now expected to range between 7.0% and 9.0%, with the balance of our growth coming from the Recent Acquisitions. This guidance does not include any future acquisitions that may be completed in 2014.
Full year 2014 adjusted EBITDA margin is expected to range between 16.5% and 17.5% of reported revenues. On a quarterly basis, adjusted EBITDA margin as a percentage of revenue may fluctuate between 16% and 18%.

For earnings history and earnings-related data on ExamWorks Group, Inc. (EXAM) click here.

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