Health Management Associates, Naples, Fla., and LifePoint Hospitals, Brentwood, Tenn., reported higher profits for the quarter ended Sept. 30 on strong volume growth at hospitals operated for at least 12 months. HMA, which operates 43 hospitals, earned $60.1 million, or 24 cents per share, for its fiscal 2002 fourth quarter, up 16% from $51.9 million, or 20 cents per share, in the year-ago quarter. Revenue increased 21% to $594.4 million, and same-hospital adjusted admissions were up 5.1%. For its fiscal year, HMA earned $246.4 million, or 97 cents per share, up 26% from 2001, on revenue of nearly $2.3 billion.
LifePoint, which operates 24 hospitals, recorded a 69% increase in profits for its third quarter to $12.7 million, or 33 cents per share, from $7.5 million, or 20 cents per share, in the year-ago period. Revenue grew 22% to $182.2 million. At the 21 hospitals LifePoint operated in both quarters, equivalent admissions increased by 5% and surgeries by more than 6%. For the nine-month period, LifePoint earned $23.9 million, or 65 cents per share, a 4% increase from the year-ago period. Revenue was up 19% to $541.7 million. The nine-month period includes an $18.9 million loss on early debt retirement, including $2.5 million in the third quarter. -- by Vince Galloro