Health Management Associates and Quorum Health Group reported big increases in first-quarter earnings last week.
Naples, Fla.-based HMA reported a 32% increase in net income to $19.9 million, or 18 cents per share, in its first quarter ended Dec. 31, 1996. That compares with net income of $15.1 million, or 14 cents per share, in the year-ago period. Revenues grew 31% to $199.2 million.
At hospitals HMA has operated for one year or more, revenue growth was up 7.7%. These "same hospital" statistics attribute the quarter's growth to a 4.5% increase in admissions.
HMA operates 26 hospitals in 11 states, primarily in rural and nonurban markets.
Meanwhile, Brentwood, Tenn.-based Quorum reported a 19% increase in net income to $20.1 million, or 40 cents per share, for the company's first quarter ended Dec. 31, 1996. That compares with net income of $16.9 million, or 34 cents per share, in the year-ago period. Revenues rose 28% to $308.9 million.