This Day On The Street
Continue to site
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

Community Health Systems, Inc. Announces Second Quarter 2014 Results With Net Operating Revenues Of $4.779 Billion

Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three and six months ended June 30, 2014.

Financial and statistical data reported in this earnings release includes Health Management Associates, Inc.’s (“HMA”) operating results from January 27, 2014, the date the Company completed its acquisition of HMA. Prior period consolidated results and statistical data reflect only the Company and its subsidiaries for the period prior to the HMA acquisition. Same-store operating results and statistical data includes comparable information for hospitals acquired as a result of the HMA acquisition for the months of February through June 2014 and 2013.

Net operating revenues for the three months ended June 30, 2014, totaled $4.779 billion, a 49.8 percent increase compared with $3.191 billion for the same period in 2013. Income from continuing operations increased to $75 million, or $0.42 per share (diluted), for the three months ended June 30, 2014, compared with income from continuing operations of $53 million, or $0.38 per share (diluted), for the same period in 2013. The results for the three months ended June 30, 2014, include $0.07 per share (diluted) of expenses related to acquisition and integration expenses from the acquisition of HMA; $0.06 per share (diluted) of legal expenses related to HMA legal proceedings underlying the contingent value rights (“CVR”) agreement; and $0.19 per share (diluted) of expenses related to accelerating amortization on software to be abandoned. Excluding these expenses, income from continuing operations was $0.74 per share (diluted). Net income attributable to Community Health Systems, Inc. common stockholders was $0.37 per share (diluted) for the three months ended June 30, 2014, compared with net income of $0.32 per share (diluted) for the same period in 2013. Discontinued operations for the three months ended June 30, 2014, consisted of a loss of $(0.04) per share (diluted). Weighted-average shares outstanding (diluted) were 113 million for the three months ended June 30, 2014, and 94 million for the three months ended June 30, 2013.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs