Shares in IPC The Hospitalist Co. plunged more than 11 percent early Wednesday after the company said it expects second-quarter profit to fall well below Wall Street expectations.

The North Hollywood-based company, which supplies physicians to hospitals, said it now expects profit of between $4.2 million and $4.6 million on revenues of between $57 million and $59 million.

Wall Street was expecting profit of $5.1 million and revenue of $58.6 million, according to a poll by Thomson Financial.

IPC, which went public in January, also reaffirmed its full-year profit and revenue projections.

Shares in IPC were down 11.4 percent to $19.50 in early trading Wednesday.