Health Management Profit Grows 17%

Naples, Fla. -- Hospital operator Health Management Associates (HMA Quote) said Monday its profit climbed 17% in the fourth quarter, aided by a large gain from early debt retirement.

The company reported net income of $14.5 million, or 6 cents per share. That compares with $12.5 million, or 5 cents per share, a year earlier. Excluding one-time items, Health Management Associates said it earned 7 cents per share from continuing operations. Revenue grew 3%, to $1.11 billion from $1.08 billion.

The results matched Wall Street estimates. Thomson Reuters said analysts expected a profit of 7 cents per share and $1.11 billion in revenue.

One-time items during the quarter included a $26.4 million gain on the early extinguishment of debt, and a $6.2 million investment impairment. ...