HMS Holdings Posts In-Line Q1 Earnings

reported in-line earnings for the first quarter on Friday. The Irving, Texas-based company reported quarterly earnings of $3.5 million, or $0.04 per share, compared to $3.4 million or $0.04 per share, in the year-ago quarter. Excluding items, the company earned $0.11 per share. Its revenue climbed 5.3 percent year-over-year to $110.3 million, while revenue, excluding Medicare RAC, rose 14.8 percent to $108.0 million. Analysts were expecting earnings of $0.11 per share on revenue of $108.57 million. The average estimate among 3 Estimize users was for earnings of $0.12 per share and revenue of $109.31 million. Commercial revenue climbed 17.1 percent to $43.2 million, while state government revenue jumped 15 percent to $59.8 million. Non-Medicare RAC federal and other revenue dropped 3.8 percent to $5.0 million. "2015 is off to a strong start, with year over year non-Medicare RAC revenue up 15% and our core coordination of benefits business up 25%," said Bill Lucia, President and CEO. "State government revenue in the first quarter exceeded our expectations. We saw a big influx of Medicaid lives, as the tail of 2014 Affordable Care Act driven Medicaid growth continued to impact our state eligibility files." HMS Holdings shares closed at $17.08 yesterday.