ExamWorks Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $148,703,000 compared to $123,738,000 a year ago. Income from operations was $1,736,000 compared to loss from operations of $92,000 a year ago. Loss before income taxes was $5,794,000 compared to $6,665,000 a year ago. Net loss was $3,592,000 or $0.10 per basic and diluted share compared to $4,323,000 or $0.13 per basic and diluted share a year ago. Adjusted EBITDA was $23,005,000 compared to $18,829,000 a year ago. Net cash used in operating activities was $1,110,000 compared to net cash provided by operating activities of $4,799,000 a year ago. Purchases of equipment and leasehold improvements, net was $1,770,000 compared to $552,000 a year ago. The increase in revenue was primarily due to acquisitions completed in 2012 and growth in its U.K. business. On a pro forma basis, revenues were $148.7 million, an increase of 6.0% over the $140.3 million in pro forma revenues in the first quarter of 2012. The company provided the following business outlook for the full year and the second quarter of 2013. For the second quarter 2013 reported revenues are expected to range between $150 million and $154 million. Second quarter 2013 reported adjusted EBITDA margins are expected to range between 15.5% and 16.0% of reported revenues. The company reaffirmed its previously stated guidance; full year 2013 reported revenues are expected to increase organically by 5-7% from its 2012 pro forma revenues of approximately $574 million, excluding the effects of currency. This revenue increase does not include the potential revenue contribution from acquisitions that it may close in 2013. Full year 2013 adjusted EBITDA margins are expected to range between 15.5% and 16.5% of reported revenues. Income tax effective rate to be approximately 35%. Cash flow from operations to be approximately $40 million.

ExamWorks Group, Inc. announced that they will report Q1, 2013 results After-Market on May 08, 2013

ExamWorks Group, Inc., Q1 2013 Earnings Call, May 08, 2013