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LifePoint Hospitals' CEO Discusses Q1 2012 Results - Earnings Call Transcript

William Carpenter

Thank you. Welcome, everyone, to LifePoint Hospital’s First Quarter 2012 Earnings Call. We hope you’ve had a chance to review the press release we issued earlier this morning. After my initial remarks Jeff Sherman, our Chief Financial Officer, will discuss in detail LifePoint’s results for the quarter. After our prepared remarks Jeff and I as well as David Dill, our President and Chief Operating Officer, will be available to answer your questions.

Let me begin by summarizing our results for the first quarter. Revenues from continuing operations grew to $851 million, up 12.2% from the same period last year. EBITDA for the quarter was $165 million, up 14.6% over last year. And EPS for the quarter was $1.16, up 30% over last year.

After taking into account the items noted in our earnings release, adjusted EPS was $0.94 for the quarter. Jeff will discuss this in more detail later.

LifePoint delivered a solid first quarter and we continue to stay focused on executing our strategic plan. We’ve benefited from the continued success of our organic investments and recent acquisitions as well as our efforts to provide quality care, improve operational efficiency and develop high-performing talent. This positions us well for the future. Although overall volumes were down impacted by a significant decline in flu during the quarter, we’re pleased by the improvement in surgical volumes, growth in our cardiology program and positive results in other outpatient service lines. We also experienced an increase in intensity during the quarter.

Acquisitions continue to play an important role for our company, with opportunities being fueled by the pressures facing the industry as a whole. These pressures are causing more community hospitals to look for opportunities to join strong systems like LifePoint that can help physicians plan for the future. We have the financial, operational and quality resources to help them survive in these challenging times. Our pipeline remains very active. We will continue our disciplined approach to acquisitions.

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