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LifePoint Hospitals 2Q earnings climb 43 percent

Mon, 08/02/2010 - 6:45am
The Associated Press

Rural hospital operator LifePoint Hospitals Inc. said Monday its second-quarter net income climbed 43 percent compared to last year, when rising expenses helped knock down earnings.

The Brentwood, Tenn., company said it earned $37.6 million, or 69 cents per share, in the three months that ended June 30. That compares to earnings of $26.3 million, or 49 cents per share, in the same quarter last year.

Revenue climbed 8 percent to $790.6 million.

Analysts polled by Thomson Reuters expected, on average, earnings of 62 cents per share on $782.7 million in revenue.

LifePoint operates 48 hospital campuses in 17 states.

It said its expense for supplies rose 7 percent to $109.2 million in the quarter, and its provision for doubtful accounts climbed 14 percent to $105 million.

The company also said Monday it now expects 2010 earnings of between $2.65 and $2.90 per share, up from previous guidance of $2.50 to $2.80 per share.

Analysts expect $2.75 per share.

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