(CHS LOGO)   Exhibit Number
99.1
Investor Contact:   W. Larry Cash
Executive Vice President
and Chief Financial Officer
(615) 465-7000
COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES
FOURTH QUARTER 2009 RESULTS WITH NET OPERATING REVENUES OF $3.1 BILLION
 
     FRANKLIN, TENN. (February 17, 2010) — Community Health Systems, Inc. (NYSE: CYH) today announced financial and operating results for the fourth quarter and year ended December 31, 2009.
     Net operating revenues for the three months ended December 31, 2009, totaled $3.1 billion, an 11.1 percent increase compared with $2.8 billion for the same period in 2008. Income from continuing operations increased to $84.1 million for the three months ended December 31, 2009, compared with $62.0 million for the same period in 2008. Income from continuing operations attributable to Community Health Systems, Inc. common stockholders increased to $0.70 per share (diluted), on 92.7 million weighted average shares outstanding for the three months ended December 31, 2009, compared with $0.57 per share (diluted), on 91.8 million weighted average shares outstanding for the same period in 2008. Net income attributable to Community Health Systems, Inc. increased 8.7 percent to $65.1 million, or $0.70 per share (diluted), for the three months ended December 31, 2009, compared with $59.9 million, or $0.65 per share (diluted), for the same period in 2008.
     Adjusted EBITDA for the three months ended December 31, 2009, was $434.4 million, compared with $389.6 million for the same period in 2008, representing an 11.5 percent increase. Adjusted EBITDA is EBITDA adjusted to exclude discontinued operations, gain/loss from early extinguishment of debt and net income attributable to noncontrolling interests. The Company uses adjusted EBITDA as a measure of liquidity. Net cash provided by operating activities for the three months ended December 31, 2009, was $175.7 million, compared with $372.2 million for the same period in 2008.
     The consolidated financial results for the three months ended December 31, 2009, reflect a 4.0 percent increase in total admissions compared with the prior year period. This increase was due primarily to acquisitions during the past twelve months. On a same-store basis, admissions decreased 0.5 percent and adjusted admissions increased 1.6 percent, compared with the same period in 2008. On a same-store basis, net operating revenues increased 7.3 percent, compared with the same period in 2008.
     Net operating revenues for the twelve months ended December 31, 2009, totaled $12.1 billion, a 10.9 percent increase compared with $10.9 billion for the same period in 2008. Income from continuing operations increased to $304.8 million for the twelve months ended December 31, 2009, compared with $233.7 million for the same period in 2008. Income from continuing operations attributable to Community Health Systems, Inc. common stockholders increased to $2.64 per share (diluted), on 91.5 million weighted average shares outstanding for the twelve months ended December 31, 2009, compared with $2.11 per share (diluted), on 94.3 million weighted average shares outstanding for the same period in 2008. Net income attributable to Community Health Systems, Inc. was $243.1 million, or $2.66 per share (diluted), for the twelve months ended December 31, 2009, compared with $218.3 million, or $2.32 per share (diluted), for the same period in 2008.
     Adjusted EBITDA for the year ended December 31, 2009, was $1.7 billion, compared with $1.5 billion for the same period in 2008, representing a 10.4 percent increase. Net cash provided by operating activities for the year ended December 31, 2009, was $1.1 billion, compared with $1.1 billion for the same period in 2008.
- MORE -

 


The following information was filed by Community Health Systems Inc (CYH) on Wednesday, February 17, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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