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Health Management Associates, Inc. Previews Fourth Quarter And Year-End 2012 Results, And Announces 2013 Objectives

Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Health Management Associates, Inc.'s most recent Annual Report on Form 10-K, and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, including under the heading entitled "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of Health Management Associates, Inc.'s underlying beliefs or assumptions prove incorrect, actual results could vary materially from those currently anticipated. In addition, undue reliance should not be placed on Health Management Associates, Inc.'s forward-looking statements. Except as required by law, Health Management Associates, Inc. disclaims any obligation to update its risk factors or to publicly announce updates to the forward-looking statements contained in this press release to reflect new information, future events or other developments.

 
HEALTH MANAGEMENT ASSOCIATES, INC.
SUPPLEMENTAL INFORMATION
(unaudited)
 
Adjusted EBITDA (in millions)
For the quarter ended December 31,   For the Year Ended December 31,
2011 (Actual)   2012 (Projected) 2011 (Actual)   2012 (Projected)
       
Same hospital, Adjusted EBITDA $ 227.6 $ 272.8 to $ 274.1 $ 938.6 $ 1,033.6 to $ 1,034.9
 
Corporate, acquisitions and other (42.4 ) (50.5 ) to (49.7 ) (152.7 ) (120.8 ) to (120.0 )
Incremental legal and investigation costs - (15.2 ) to (15.1 ) - (15.2 ) to (15.1 )

 

Medicare and Medicaid HCIT incentive payments, net of Medicaid rate reductions
  38.2     46.3   to   50.7     40.0     65.0   to   69.4  
 
Adjusted EBITDA $ 223.4   $ 253.4   to $ 260.0   $ 825.9   $ 962.6   to $ 969.2  
 
 
Diluted Earnings Per Share ("EPS")
For the quarter ended December 31, For the Year Ended December 31,
2011 (Actual) 2012 (Projected) 2011 (Actual) 2012 (Projected)
 
Continuing operations EPS, as adjusted $ 0.13 $ 0.12 to $ 0.13 $ 0.72 $ 0.75 to $ 0.76

 

Medicare and Medicaid HCIT incentive payments, net of Medicaid rate reductions
0.10 0.12 to 0.13 0.09 0.16 to 0.17
 
Write-off of deferred debt issuance costs (0.06 ) - to - (0.06 ) - to -
 
Interest rate swap accounting   (0.04 )   (0.05 ) to   (0.05 )   (0.04 )   (0.25 ) to   (0.25 )

 

EPS from continuing operations, attributable to Health Management Associates, Inc. common stockholders
$ 0.13   $ 0.19   to $ 0.21   $ 0.71   $ 0.66   to $ 0.68  
 
 
HEALTH MANAGEMENT ASSOCIATES, INC.
SUPPLEMENTAL INFORMATION
(unaudited)
 
Projected Adjusted EBITDA Range (in millions)
2012   2013
       
Same hospital, Adjusted EBITDA $ 1,106.2 to $ 1,107.5 $ 1,173.2 to $ 1,192.9
 
Corporate, acquisitions and other, excluding legal fees (144.1 ) to (143.2 ) (160.0 ) to (165.0 )
 
Legal fees (64.5 ) to (64.5 ) (50.0 ) to (35.0 )

 

Medicare and Medicaid HCIT incentive payments, net of Medicaid rate reductions
  65.0   to   69.4     15.0   to   45.0  
 
Adjusted EBITDA $ 962.6   to $ 969.2   $ 978.2   to $ 1,037.9  
 
 
Projected Diluted Earnings Per Share ("EPS)
2012 2013
 
Continuing operations EPS, as adjusted $ 0.91 to $ 0.93 $ 0.86 to $ 1.01

 

Interest rate swap and mark-to-market adjustments
  (0.25 ) to   (0.25 )   (0.19 ) to   (0.22 )

 

EPS from continuing operations, attributable to Health Management Assoicates, Inc. common stockholders
$ 0.66   to $ 0.68   $ 0.67   to $ 0.79  

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