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LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the third quarter and nine months ended September 30, 2012.
For the third quarter ended September 30, 2012, revenues from continuing operations were $820.2 million, up 11.0% from $739.2 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, 2012, decreased 50.7% to $19.2 million, or $0.39 per diluted share, compared with $38.9 million, or $0.77 per diluted share, for the same period last year.
For the first nine months of 2012, revenues from continuing operations were $2,498.5 million, up 11.3% from $2,244.8 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the first nine months of 2012 decreased 7.6% to $115.4 million, or $2.38 per diluted share, compared with $125.0 million, or $2.43 per diluted share, for the same period last year.
In commenting on the results, William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals, said, “This was a challenging quarter for LifePoint. Our financial results were adversely affected by specific costs associated with investments we made that are critical to future growth and by operational changes in our business. We remain focused on improving operating efficiencies in light of the current environment, advancing our strategy of delivering high quality care and service, expanding in existing markets and through acquisitions in faster growing markets, as well as developing talent. We are confident our plan will deliver results and continue to generate value for our stockholders.”
The Company also issued the following revised guidance for 2012: