IPC The Hospitalist Company, Inc. Presents at UBS Global Healthcare Conference, May-20-2013 01:30 PM. Venue: Sheraton New York Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: Adam D. Singer, Chairman, Chief Executive Officer, Co-Founder and Member of Quality Committee, R. Jeffrey Taylor, President, Chief Operating Officer, Director and Member of Quality Committee.

IPC The Hospitalist Company, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company reported that the first quarter marked another record achievement for the company, with approximately 1.6 million patient encounters. Net revenue for the three months ended March 31, 2013 was $153.1 million, an increase of $23.3 million, or 18.0%, from $129.8 million for the same period in the prior year. Of this $23.3 million increase, 77% was attributable to same-market area growth, including tuck-in acquisitions and new hires, and 23% was attributable to revenue generated from operations in new markets. Same-market revenue increased 13.9%, same-market encounters increased 12.1% and same market patient revenue per encounter increased 1.9%. The 1.9% increase is largely due to a combination of Medicare fee schedule rate increases and Medicaid parity. Medicaid parity represents an increase in Medicaid payments up to Medicare reimbursement levels for 2013 and 2014 in accordance with the Patient Protection and Affordable Care Act of 2010, as amended. Adjusted income from operations, which excludes the net change in fair value, for the first quarter of 2013 increased 16.5%, to $16.0 million, or an adjusted operating margin of 10.5%, compared with $13.8 million adjusted income from operations, or an adjusted operating margin of 10.6% for the same period in the prior year. Adjusted net income, which excludes the net change in fair value, for the first quarter of 2013 increased 14.9%, to $9.8 million, or a 6.4% adjusted net income margin, compared with $8.6 million adjusted net income, or a 6.6% adjusted net income margin, for the same period in the prior year. Adjusted diluted earnings per share, which excludes the net change in fair value, increased 13.1% to $0.57 for the first quarter of 2013, compared with $0.51 adjusted diluted earnings per share for the same period in the prior year. In accordance with GAAP, which includes the net change in fair value, diluted earnings per share for the quarter were $0.61, compared to $0.50 for the prior year quarter. Net cash provided by operating activities for the three months ended March 31, 2013 was $13.9 million compared with $14.9 million for the same period in 2012. Income from operations was $17,139,000 against $13,689,000 a year ago. Income before income taxes was $17,026,000 against $13,611,000 a year ago. Net income was $10,505,000 or $0.61 per diluted share against $8,506,000 or $0.50 per diluted share a year ago. Purchase of property and equipment was $1,113,000 against $1,105,000 a year ago. Acquisitions of physician practices were $9,691,000 against $26,222,000 a year ago. The company reaffirmed its guidance for the full year 2013 and expects revenue to be in the range of $597 million to $607 million and adjusted diluted earnings per share to be in the range of $2.15 to $2.25. The company has provided this outlook based on assumptions of (i) weighted average shares outstanding of 17.2 million for the year, (ii) a 38.3% effective tax rate, (iii) $7.3 million in stock based compensation expense, and (iv) $4.9 million in depreciation and amortization expense. Not included in the assumptions are (i) new market acquisitions completed after today's date, or (ii) future gains or losses related to changes in the fair value of contingent consideration of acquired practices.

IPC The Hospitalist Company, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on Apr 24, 2013