Key Developments: Providence Service Corp (PRSC.O)
26.93USD
19 Jun 2013
$-0.67 (-2.43%)
$27.60
$27.52
$27.52
$26.11
208,529
94,931
$29.40
$9.56
Latest Key Developments (Source: Significant Developments)
Providence Service Corp Announces Executive Leadership Changes
Providence Service Corp announced that Fletcher Jay McCusker, the Company's Chief Executive Officer, will retire from the Company to pursue other interests by the end of the year. Effective immediately, Warren Rustand, Providence's Lead Director, has been appointed Interim Chief Executive Officer. Mr. McCusker will also step down from his role as Chairman of the Board of Directors and as a director. Christopher Shackelton, Managing Partner at Coliseum Capital Management, one of the Company's shareholders, and a director of the Company, will become Chairman of the Board. The Company also announced that Michael Deitch, Chief Financial Officer, will retire from the Company to pursue other interests by the end of the year. Robert Wilson, formerly a Managing Director at the international accounting firm Grant Thornton within the firm's Health Care Advisory Services practice, has been appointed Chief Financial Officer. Full Article
The Providence Service Corporation Raises Q2 2012 Revenue Guidance; Lowers Q2 2012 EPS Guidance
The Providence Service Corporation announced that revenue for the second quarter of 2012 is expected to be approximately $279 million, with earnings per diluted share (EPS) of approximately $0.10 to $0.11. These results are preliminary. This compares to prior guidance which forecasted revenue to be approximately $275 million, with earnings per diluted share of $0.17. Impacting the expected second quarter 2012 results were previously announced expenses associated with the Company's consideration of strategic alternatives, unbudgeted stock compensation expense associated with the acceleration of vesting of restricted stock grants due to a company director passing away and higher than expected expense for healthcare claims under the Company's self-funded employee health plan. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of revenues of $275 million and EPS of $0.17 the second quarter of 2012. Full Article
The Providence Service Corporation Reaffirms FY 2012 Guidance; Issues Q2 2012 Mixed Guidance; Issues Q3, Q4 2012 Guidance Above Analysts' Estimates
The Providence Service Corporation announced that for fiscal 2012, it expects revenue to be approximately $1.0 billion and diluted earnings per share (EPS) of approximately $1.22. For the second quarter of 2012, it expects revenue to be approximately $275 million and EPS to be approximately $0.17. For the third quarter of 2012, it expects revenue to be approximately $273 million and EPS to be approximately $0.34. For the fourth quarter of 2012, it expects revenue to be approximately $280 million and EPS to be approximately $0.48. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.0 billion and EPS of $1.21 for fiscal 2012; revenues of $258 million and EPS of $0.36 for the second quarter of 2012; revenues of $257 million and EPS of $0.26 for the third quarter of 2012; revenues of $264 million and EPS of $0.39 for the fourth quarter of 2012. Full Article
The Providence Service Corporation Issues FY 2012 Guidance In Line With Analysts' Estimates; Issues Q1 2012 Guidance; EPS Guidance Below Analysts' Estimates
The Providence Service Corporation announced that for fiscal 2012, it expects revenue to be approximately $1.0 billion and diluted earnings per share (EPS) of approximately $1.22. For the first quarter of 2012, it expects revenue to be in a range of $240-$255 million and EPS to be in a range of $0.20-$0.22. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.0 billion and EPS of $1.28 for fiscal 2012; revenues of $250 million and EPS of $0.40 for the first quarter of 2012. Full Article
The Providence Service Corporation Lowers Q4, FY 2011 Guidance
The Providence Service Corporation announced that for the fourth quarter of 2011, it expects revenues to be approximately $244 million, with earnings per diluted share (EPS) of between $0.22 and $0.24. For fiscal 2011, it expects revenue to be approximately $943 million, with earnings per diluted share of between $1.27 and $1.29, including the gain related to an acquisition. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $246 million and EPS of $0.31 for fourth quarter of 2011; revenue of $945 million and EPS of $1.24 for fiscal 2011. Full Article
The Providence Service Corporation Issues Q4 2011 Revenue Guidance Above Analysts' Estimates; Lowers Q4 2011 EPS Guidance; Raises FY 2011 Revenue Guidance; Lowers FY 2011 EPS Guidance
The Providence Service Corporation announced that for fourth quarter of 2011, it expects revenue to be in the range of $245 to $250 million. Diluted earnings per share is now forecast to be between $0.30 and $0.32, down from prior estimates of $0.36 and $0.38. For fiscal 2011, it expects revenue in the range of between $944-$949 million up from prior expectations of $933-$943 million. Earnings per diluted share is now anticipated to be between $1.15-$1.17 and includes the non cash charge of approximately $2.5 million, or $0.11 per share, related to the write-off of unamortized deferred financing fees of its senior credit facility. This is down from prior estimates of between $1.29 and $1.33 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $241 million and EPS of $0.35 for fourth quarter of 2011; revenue of $938 million and EPS of $1.37 for fiscal 2011. Full Article
The Providence Service Corporation Lowers Q3 2011 EPS Guidance; Sees Q3 2011 Revenue Guidance At High End Of Prior Range
The Providence Service Corporation announced that earnings are currently expected to be approximately $0.13 to $0.16 per diluted share (EPS) for the third quarter of 2011 on revenue of approximately $235 million. While revenue is at the high end of the Company's anticipated range, earnings per share is below previously issued guidance of between $0.23 and $0.25. Reasons for the lower than anticipated earnings include the inability of a payer to timely reconcile revenue for services rendered related to a terminated social services contract, additional expenses due to atypical start-up costs related to new LogistiCare contracts, and an adjustment due to annual tax reconciliations. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $233 million and EPS of $0.24 for third quarter of 2011. Full Article
The Providence Service Corporation Issues Q3, FY 2011 Mixed Guidance; Issues Q4 2011 Guidance Above Analysts' Estimates
The Providence Service Corporation announced that for third quarter of 2011, it expects revenue to be in the range of $230-$235 million and diluted earnings per share (EPS) to be in the range of $0.23-$0.25. For fourth quarter of 2011, it expects revenue to be in the range of $240-$245 million and EPS to be in the range of $0.36-$0.38. For fiscal 2011, it expects revenue to be in the range of $933-$943 million and earnings per share (EPS) to be in the range of $1.29 and $1.33 after including the non-cash charge of approximately $2.5 million, or $0.11 per share, related to the write-off of unamortized deferred financing fees of its senior credit facility. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $228 million and EPS of $0.26 for third quarter of 2011; revenue of $232 million and EPS of $0.35 for fourth quarter of 2011 and revenue of $915 million and EPS of $1.40 for fiscal 2011. Full Article
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