Vanguard Health Systems, Inc. (NYSE: VHS) today announced financial and operating results for the second fiscal quarter and six months ended December 31, 2011.
Second Quarter Fiscal 2012 Key Metrics (all percentage changes compare Q2 FY2012 to Q2 FY2011):
- Total revenues increased 61.4 percent
- Net income attributable to Vanguard Health Systems, Inc. stockholders was $12.1 million, or $0.15 per diluted share, compared to a net loss attributable to Vanguard Health Systems, Inc. stockholders of $5.0 million, or a loss per share of $0.11, during the prior year period
- Adjusted EBITDA increased 54.7 percent to $133.7 million
- Net patient service revenues increased 2.5 percent and health plan premium revenues declined 16.1 percent
- Adjusted discharges increased 0.9 percent
- Discharges declined 2.0 percent
- Total revenues increased 64.4 percent
- Net loss attributable to Vanguard Health Systems, Inc. stockholders was $7.1 million, or $0.10 loss per share, which included a pre-tax charge of $38.9 million, or $0.34 per share net of taxes, related to the redemption of substantially all of our outstanding 10.375% senior discount notes due 2016 and a pre-tax charge of $12.6 million, or $0.10 per share net of taxes, related to expenses incurred to complete our acquisition of Valley Baptist Health System effective September 1, 2011
- Adjusted EBITDA increased 56.3 percent to $256.5 million
- Net patient service revenues increased 2.9 percent and health plan premium revenues declined 10.1 percent
- Adjusted discharges increased 1.8 percent
- Discharges declined 1.7 percent
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