UPDATE 1-MedAssets Q3 profit beats estimates
* Q3 results beat estimates
* Reaffirms 08 view
* Sees FY 09 EPS below estimates
* Shares down 9 pct
Nov 13 (Reuters) - Cost management services provider MedAssets Inc (MDAS.O) posted quarterly results that beat analysts' estimates, driven mainly by its revenue management segment, but forecast 2009 profit below consensus view, sending its shares down 9 percent after the bell.
Third-quarter net income was $3.7 million, or 7 cents a share, compared with a loss of $4.6 million, or 40 cents a share, in the year-ago period.
Excluding items, the company reported earnings of 15 cents a share that were above analysts' estimates by 2 cents a share.
Total revenue rose 54 percent to $76 million, while sales from its revenue management segment grew 88 percent to $45.8 million.
For 2009, the company expects earnings in the range of 54 cents and 62 cents a share. Analysts expect earnings of 70 cents a share, before items, according to Reuters Estimates.
MedAssets' shares were trading down 9 percent at $12.14 on Nasdaq, after the bell. Shares of the company, which have lost more than a third of their value so far this year, closed at $13.32.
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For the company press release, please double click [ID:nBw136336a] (Reporting by Vidya L Nathan in Bangalore; Editing by Anil D'Silva)
