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FORT LAUDERDALE, Fla. - Health care services company Pediatrix Medical Group said Tuesday it is revising its second-quarter and full-year earnings projections downward due to lower neonatal intensive care unit patient volume.
| PDX | 56.54 |  -0.21 |
Assuming that neonatal unit volume remains at current levels, Pediatrix now expects second-quarter earnings of between 77 cents and 80 cents per share. The company had previously projected 85 cents to 87 cents per share.
Pediatrix also said it expects to miss previously given full-year estimates. It had forecast full-year earnings of between $3.35 and $3.45 per share.
Analysts surveyed by Thomson Financial expect second-quarter earnings of 84 cents per share and full-year earnings of $3.35 per share.
Pediatrix also announced that its board of directors has authorized a share repurchase of up to $100 million.
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