MedCath swoons on lowered ’08 and Q2 lowered outlook
Shares of MedCath Corp. (Nasdaq: MDTH) are taking it in the chin out of the gate after the healthcare provider this morning lowered its fiscal year and fiscal second-quarter revenue and earnings projections below the consensus on Wall Street. The company attributed the downward revisions to a shift in product and payer mix during the second quarter and cost report settlements incurred in a prior period, which reduced preliminary net revenue.
Shares gained 10.6%, or $0.57, to $5.95 ahead of the bell. For detailed price information and recent news stories about MedCath, click MDTH.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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