This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Vanguard Health Systems Reports Second Quarter Fiscal 2012 Results

Stocks in this article: VHS

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):

Consolidated:

  • 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

Same Hospital:

  • 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

Year to Date Fiscal 2012 Key Metrics (all percentage changes compare six months YTD FY2012 to six months YTD FY2011):

Consolidated:

  • 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

Same Hospital:

  • 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

Discussion of Results

The increase in consolidated total revenues during the second quarter of fiscal 2012 and during the first six months of fiscal 2012 was primarily attributable to the acquisitions of The Detroit Medical Center (“DMC”) in January 2011 and Valley Baptist Health System in September 2011. The increase in same hospital net patient service revenues during the second quarter of fiscal 2012 was primarily comprised of a 1.8 percent increase in patient revenue per adjusted discharge and a 0.9 percent increase in adjusted discharges. The decrease in health plan premium revenues during the second quarter of fiscal 2012 resulted from the impact to Phoenix Health Plan of a combination of capitation rate decreases, program eligibility cuts and health plan profitability limitations for certain groups of covered members adopted by the Arizona Health Care Cost Containment System (“AHCCCS”) since the second quarter of fiscal 2011.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs