LifePoint's earnings rise for quarter, year

LifePoint Hospitals, Brentwood, Tenn., said its profits rose nearly 75% for the fourth quarter and 25% for 2002 on same-hospital volume growth, acquisitions and its ability to control costs. LifePoint said it earned $17.6 million, or 44 cents per share, for the fourth quarter, compared with $10.3 million, or 27 cents per share, in the year-ago period. Revenue was up 23% to $201.9 million. For the year, LifePoint earned $41.5 million, or $1.10 per share. Revenue rose 20% to $743.6 million. The company said same-hospital equivalent admissions were up 4.6% for the quarter and 4% for the year compared with the year-ago periods; surgery and emergency-visit volumes also were higher for both periods. LifePoint acquired five hospitals in the fourth quarter, giving it a total of 28 hospitals. -- by Vince Galloro