HCA Posts $102 Million Loss on Settlement - TheStreet

HCA

(HCA) - Get Report

posted a hundred-million-dollar loss in the fourth quarter after making a big payment to settle claims it overcharged the government.

The hospital operator also said it settled a suit brought by a group of state pension funds alleging its corporate governance setup was partly responsible for the malfeasance. It said insurance carriers will fund $14 million of the settlement and the company will change its governance standards.

Nashville, Tenn.-based HCA lost $102 million, or 20 cents a share, in the latest quarter, compared with net income of $59 million, or 11 cents a share, last year. The latest period included a charge of $418 million for the government settlement. Excluding items, the company earned 63 cents a share in the latest quarter.

The company said revenue rose 10.7% to $5 million, while margin on earnings before interest, taxes, depreciation and amortization rose to 18.4% from 17.7%.