MedAssets Surges 20% on Strong Quarterly Results
Shares of MedAssets (NASDAQ: MDAS) were seeing increased strength during Thursday's trading session after the company reported second-quarter results yesterday, which exceeded analysts' consensus estimates.
MedAssets' total net revenue for the second quarter of 2012 increased 10.6% to $163.0 million from $147.4 million in the second quarter of 2011. Comparing period-over-period organic growth, total net revenue of $163.0 million in the second quarter of 2012 increased 10.2% from total non-GAAP net revenue of $147.9 million.
The company's non-GAAP adjusted EPS, defined as EPS excluding non-cash acquisition-related intangible amortization and depreciation, non-cash share-based compensation, certain acquisition and integration-related expenses and non-recurring items on a tax-adjusted basis, increased 21.7% to $0.28 per share in the second quarter of 2012, versus non-GAAP adjusted EPS of $0.23 per share in the second quarter of 2011.
Thursday, shares of MedAssets traded up over 19 percent, at about $15.34 per share.
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