Exhibit Number 99.1
(CHS LOGO)   COMMUNITY HEALTH
SYSTEMS, INC.
Investor Contact:   W. Larry Cash
Executive Vice President
and Chief Financial Officer
(615) 465-7000
COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES
FOURTH QUARTER 2008 RESULTS WITH NET OPERATING REVENUES OF $2.8 BILLION
 
FRANKLIN, TENN. (February 19, 2009)
¾ Community Health Systems, Inc. (NYSE: CYH) today announced financial and operating results for the fourth quarter and year ended December 31, 2008.
     Net operating revenues for the three months ended December 31, 2008, totaled $2.762 billion, a 10.9 percent increase compared with $2.490 billion for the same period in 2007. Income from continuing operations increased to $56.3 million, or $0.61 per share (diluted), on 91.8 million weighted average shares outstanding for the three months ended December 31, 2008, compared with a loss of $71.9 million, or $0.77 per share (diluted), on 93.7 million weighted average shares outstanding for the same period in 2007. Net income increased to $59.9 million, or $0.65 per share (diluted), for the three months ended December 31, 2008, compared with a loss of $88.3 million, or $0.94 per share (diluted), for the same period in 2007.
     Adjusted EBITDA for the three months ended December 31, 2008, was $391.7 million, compared with $181.1 million for the same period in 2007, representing a 116.3 percent increase. Adjusted EBITDA is EBITDA adjusted to exclude discontinued operations, gain from early extinguishment of debt and minority interest in earnings. The Company uses adjusted EBITDA as a measure of liquidity. Net cash provided by operating activities for the three months ended December 31, 2008, was $372.2 million, compared with $283.1 million for the same period in 2007.
     The consolidated financial results for the three months ended December 31, 2008, reflect a 1.9 percent increase in total admissions compared with the same period in 2007. This increase is primarily attributable to the addition of two hospitals acquired during the fourth quarter of 2008. On a same-store basis, admissions decreased 0.9 percent and adjusted admissions decreased 0.2 percent, compared with the same period in 2007. On a same-store basis, net operating revenues increased 7.4 percent, compared with the same period in 2007.
     Net operating revenues for the year ended December 31, 2008, totaled $10.840 billion, a 53.5 percent increase compared with $7.064 billion for 2007. Income from continuing operations was $206.7 million, or $2.19 per share (diluted), on 94.3 million weighted-average shares outstanding for the year ended December 31, 2008, compared with $57.7 million, or $0.61 per share (diluted), on 94.6 million weighted-average shares outstanding for 2007. Net income was $218.3 million, or $2.32 per share (diluted), for the year ended December 31, 2008, compared with $30.3 million, or $0.32 per share (diluted), for 2007.
     Adjusted EBITDA for the year ended December 31, 2008, was $1.525 billion, compared with $815.0 million for 2007, representing an 87.1 percent increase. Net cash provided by operating activities for the year ended December 31, 2008, was $1.057 billion, compared with $687.7 million for 2007.
- MORE -

 


The following information was filed by Community Health Systems Inc (CYH) on Thursday, February 19, 2009 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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