TeamHealth Earns $15.3M for 3Q

Professional healthcare staffing and administrative services firm TeamHealth announced earnings for the third quarter ended Sept. 30, 2011 of $15.3 million, compared to $15.4 million in the same period of 2010.

Net revenue less provision for uncollectibles was $443.6 million for the third quarter, up 15 percent compared to a year ago. New contracts outside the firm's military division contributed to 6.6 percent of the growth. 

Adjusted EBITDA increased to $48.7 million from $40.8 million in the third quarter of 2010.

The company also announced it made certain adjustments to its previously issued financial statements related to contingent earnout payments, and has accordingly updated statements for the year ended Dec. 31, 2010, and for the quarters ended March 31, 2011 and June 30, 2011.

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