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FOR IMMEDIATE RELEASE
|Contact:||John C. Merriwether|
|Vice President of Financial Relations|
|Health Management Associates, Inc.|
HEALTH MANAGEMENT ANNOUNCES 3rd QUARTER 2012 RESULTS
Diluted EPS from continuing operations increased 5.9% to $0.18, excluding impact of interest rate swap accounting, mark-to-market adjustments and HCIT payments, net of Medicaid rate adjustments. Overall diluted EPS from continuing operations of $0.17.
NAPLES, FLORIDA (October 22, 2012) Health Management Associates, Inc. (NYSE: HMA) today announced its consolidated financial results for the third quarter and nine months ended September 30, 2012.
Key metrics from continuing operations for the third quarter (all percentage changes compare the third quarter of 2012 to the third quarter of 2011) include:
As shown in the tables accompanying this press release, excluding the impact of approximately $23.9 million, or $0.06 per diluted share, of interest rate swap accounting as well as a mark-to-market adjustments on the swap due to interest rate conditions, and excluding approximately $20.3 million, or $0.05 per diluted share, of Medicare and Medicaid Healthcare Information Technology (HCIT) incentive payments, net of Medicaid rate adjustments, diluted earnings per share from continuing operations increased 5.9% to $0.18 as compared to $0.17 per diluted share for the same quarter a year ago;
Net revenue increased 18.1% to $1.440 billion;
Adjusted EBITDA increased 26.9% to $236.4 million;
Admissions increased 4.0% while adjusted admissions increased 10.4%;
Same hospital net revenue increased 4.5% to $1.274 billion;
Same hospital net revenue per adjusted admission increased 6.9%;
Same hospital Adjusted EBITDA increased 14.2% to $259.6 million, resulting in a 180 basis point improvement in margin to 20.4%. Excluding HCIT incentive payments of approximately $24.2 million and $1.7 million for the third quarter 2012 and 2011, respectively, same hospital Adjusted EBITDA increased 4.3% to $235.4 million; and
Same hospital surgeries and emergency room visits increased 0.8% and 4.2%, respectively.
The following information was filed by Health Management Associates, Inc (HMA) on Tuesday, October 23, 2012 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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