IASIS Healthcare® LLC (“IASIS”) today announced financial and operating results for the fiscal first quarter ended December 31, 2009.
“We are pleased to announce another quarter of solid revenue and EBITDA growth. We believe these results further validate the strength of our integrated approach to operational excellence, strategic growth and financial stewardship.”
Net revenue for the first quarter totaled $629.0 million, an increase of 12.0%, compared to $561.6 million in the prior year quarter. Adjusted EBITDA for the first quarter totaled $71.7 million, an increase of 7.5%, compared to $66.7 million in the prior year quarter. A table describing adjusted EBITDA and reconciling net earnings from continuing operations to adjusted EBITDA is included in this press release in the attached Supplemental Consolidated Statements of Operations Information. Net earnings from continuing operations for the first quarter totaled $19.3 million, compared to $14.0 million in the prior year quarter.
Admissions and adjusted admissions increased 4.6% and 3.3%, respectively, in the first quarter, compared to the prior year quarter. Net patient revenue per adjusted admission increased 3.7% in the first quarter, compared to the prior year quarter.
In commenting on the first quarter results, David R. White, chairman and chief executive officer of IASIS Healthcare, said, “We are pleased to announce another quarter of solid revenue and EBITDA growth. We believe these results further validate the strength of our integrated approach to operational excellence, strategic growth and financial stewardship.”
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