Claims clearinghouse and revenue cycle management software vendor Emdeon Business Services increased revenue during the third quarter of 2009, but various costs put it in the red.
The Nashville, Tenn.-based vendor had a net loss of $7.2 million for the quarter following equity compensation expenses of $12.6 million, primarily related to its August initial public offering of stock, and a modest income tax expense related to its capital structure and valuation allowances. That compares with a $1.2 million loss during the same period a year ago. Absent the expenses, Emdeon had adjusted net income of 21 cents per share, beating investment analyst expectations of 19 cents.
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