LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the third quarter and nine months ended September 30, 2009.
For the third quarter ended September 30, 2009, revenues from continuing operations were $745.0 million, up 10.4% from $675.1 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. for the third quarter ended September 30, 2009, increased 12.4% to $32.1 million, or $0.59 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. of $28.6 million, or $0.54 per diluted share, for the same period last year. Net income attributable to LifePoint Hospitals, Inc. for the third quarter ended September 30, 2009, was $31.4 million, or $0.58 per diluted share, compared with $8.5 million, or $0.16 per diluted share, for the same period last year.
For the first nine months of 2009, revenues from continuing operations were $2,215.8 million, up 9.4% from $2,025.9 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. for the first nine months of 2009 increased 4.5% to $100.6 million, or $1.88 per diluted share, compared with $96.3 million, or $1.80 per diluted share, for the same period of 2008. Net income attributable to LifePoint Hospitals, Inc. for the nine months ended September 30, 2009, was $96.1 million, or $1.80 per diluted share, compared with $75.0 million, or $1.40 per diluted share, for the same period a year ago.
In commenting on the results, William F. Carpenter III, president and chief executive officer of LifePoint Hospitals, said, “We are encouraged by the trends we saw in our results for the quarter. In particular, we saw improvement in revenue, EBITDA and EPS. We have also seen improvement in our core measures and other quality indicators. Our operating initiatives, including our enhanced physician recruitment efforts, are gaining traction, and we expect they will continue to drive improved performance.
“Although we are not satisfied with our inpatient admissions, we achieved sequential improvement in admissions, as well as in adjusted admissions this quarter. Admissions growth remains a priority, and it is important to us and our hospitals that more patients receive quality care close to home. In that regard, by being the first to bring state-of-the-art technology to our communities, our hospitals have made it easier for patients to choose our facilities more often over those in distant communities. In addition, the focus of our hospitals on Emergency Department processes, including those intended to improve the patient experience, should strengthen and improve performance.”
The Company confirmed its full year 2009 guidance for revenue in a range of $2.9 billion to $3.0 billion, Adjusted EBITDA in a range of $450.0 million to $470.0 million and diluted earnings per share in a range of $2.35 to $2.55.