Oct 29 2010
LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the third quarter and nine months ended September 30, 2010.
For the third quarter ended September 30, 2010, revenues from continuing operations were $832.3 million, up 11.7% from $745.0 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the third quarter ended September 30, 2010, increased 19.9% to $38.5 million, or $0.72 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders of $32.1 million, or $0.59 per diluted share, for the same period last year. Income from continuing operations for the third quarter ended September 30, 2010, includes incremental Alabama Medicaid funding that the Company budgeted to receive in 2010 as well as a favorable income tax adjustment. Net income attributable to LifePoint Hospitals, Inc. stockholders for the third quarter ended September 30, 2010, was $38.8 million, or $0.73 per diluted share, compared with $31.4 million, or $0.58 per diluted share, for the same period last year.
For the nine months ended September 30, 2010, revenues from continuing operations were $2,409.1 million, up 8.7% from $2,215.8 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the first nine months of 2010, increased 18.5% to $119.3 million, or $2.21 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders of $100.6 million, or $1.88 per diluted share, for the same period last year. Net income attributable to LifePoint Hospitals, Inc. stockholders for the nine months ended September 30, 2010, was $119.3 million, or $2.21 per diluted share, compared with $96.1 million, or $1.80 per diluted share, for the same period last year.
In commenting on the results, William F. Carpenter III, president and chief executive officer of LifePoint Hospitals, said, "Our third quarter results were solid in spite of soft volumes. We are on track to meet the guidance that we revised upward in the second quarter, and we are executing our strategic initiatives to create value for LifePoint stockholders. In addition, our recently acquired hospitals are performing well, and the integrations are proceeding as scheduled. We look forward to bringing the benefits of our scale, resources and management capabilities to these facilities."
SOURCE LifePoint Hospitals, Inc.