Metropolitan Health Networks Inc. (MDF) also released earning this morning. Revenues for the healthcare provider were up a little more than 3% in the three-month period rising to $91.2 million. Earnings more than tripled reaching $0.17 a share compared to just $0.05 a year ago. Revenues were in line with expectations but the earnings were much higher than expected. The average analyst estimate was for just $0.11 a share so MDF posted a 54% earnings earning surprise.
The company also said that they continued to repurchase shares in the open market and so far in 2010 have bought back 1.9 million shares. The huge upside surprise and positive comments from management should set analysts scrambling to raise their full year numbers over the next few weeks. I expect we'll add to our 7% return in the days and weeks ahead, so continue to buy under our $5 buy limit.