Emergency Medical Services Corp.

Emergency Medical Services Corp. (EMS - Snapshot Report) recently reported great third-quarter results and shares are responding. The company also completed another acquisition as analysts continue to raise estimates.

Company Description

Emergency Medical Services Corp. is a leading provider of emergency medical services. The company provides transportation services directly and through outsource staffing. EMSC operates nationwide in over 2,000 areas and is headquartered in Greenwood Village, Colorado.

Earnings Surge Above Estimates

EMSC reported third-quarter results on Oct 31 that included net revenue of $679 million, a 28% year-over-year increase.

Earnings per share were 66 cents, 94% higher than the third quarter of 2007. Net income was 47% higher than the consensus estimate, making it the third consecutive earnings surprise.

The company also raised full-year guidance again and now expect EPS to be between $1.90 and $2.00, up from between $1.70 and $1.75.

Analyts Agree

The consensus estimates has been rising and is now $1.91, as analysts increased estimates following the announcement. Earnings per share last year were $1.42, meanings that Wall Street is forecasting 34% growth for 2008.

Acquisition Completed

On Oct 20 EMSC announced the completed acquisition of Templeton Readings, LLC. Templeton provides teleradiology services for radiologists in 31 stats. EMSC is forecasting $20 million in additional net revenue per year from the deal.

The Chart

Shares of EMS have settled into a new trading range after the third-quarter announcement. Take a look at the chart below.