- As shown in the tables accompanying this press release, diluted earnings per share (“EPS”) from continuing operations increased to $0.19. Excluding the impact of approximately $20.3 million, or $0.05 per diluted share, of interest rate swap accounting and mark-to-market adjustments on the swap due to interest rate conditions, and excluding approximately $52.6 million, or $0.12 per diluted share, of Medicare and Medicaid Healthcare Information Technology (“HCIT”) incentive payments, net of Medicaid rate adjustments, diluted earnings per share from continuing operations was $0.12 per diluted share, as compared to $0.13 per diluted share in the prior year. Also impacting the fourth quarter was approximately $0.04 per diluted share of incremental legal and investigation expense and approximately $0.02 to $0.03 per diluted share related to Mississippi Medicaid payment reductions, which were offset by Medicare and Medicaid HCIT incentive payments;
- Net revenue increased 6.6% to $1.481 billion;
- Adjusted EBITDA increased 13.7% to $254.0 million;
- Same hospital net revenue increased 5.1% to $1.459 billion;
- Same hospital net revenue per adjusted admission increased 5.2%;
- As shown in the accompanying table, same hospital Adjusted EBITDA increased 22.2% to $324.9 million, resulting in a 320 basis point improvement in margin to 22.3%. Excluding HCIT incentive payments of approximately $52.6 million and $38.2 million for the fourth quarter 2012 and 2011, net of Medicaid rate adjustments, respectively, same hospital Adjusted EBITDA increased 19.6% to $272.3 million and same hospital Adjusted EBITDA margin increased 230 basis points to 18.7%; and
- Same hospital surgeries and emergency room visits increased 0.9% and 9.2%, respectively.
Health Management Announces Fourth Quarter And Year-End 2012 Results
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