October 22, 2009 / 8:52 PM / 10 years ago

UPDATE 1-Healthways Q3 beats market estimates; ups 2009 rev view

* Q3 EPS $0.26 tops est $0.23

* Q3 rev $181.6 mln vs est $169.6 mln

* Raises FY rev view to $708-$717 mln

Oct 22 (Reuters) - Healthcare management provider Healthways Inc HWAY.O reported a better-than-expected quarterly profit, helped by strong performance of its domestic operations, and raised its revenue outlook for the year.

The company said third quarter results were driven primarily by the timing of performance-based revenue recognition, as certain targets were achieved earlier than expected, the company said in a statement.

For the third quarter, the company posted net income of $8.8 million, or 26 cents per share, compared with $15.6 million, or 45 cents a share, last year.

Total revenue was $181.6 million compared with $187.4 million a year ago.

Analysts’ average profit view for the quarter was 23 cents a share, before special items, on revenue of $169.6 mln, according to Thomson Reuters I/B/E/S.

Healthways raised its 2009 revenue outlook to a range of $708 million to $717 million from its previous view of $685 million to $700 million.

Shares of the company closed at $16.15 Thursday on Nasdaq.

For the alerts, please double-click [ID:nWNAB3012] (Reporting by Suzannah Benjamin in Bangalore; Editing by Pradeep Kurup)

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