United Surgical Partners International, Dallas, said fourth-quarter net income totaled $5.7 million, or 21 cents per share, compared with a net loss of $1.7 million, or 7 cents per share, in the year-ago period. Revenue was up 37% to $95.6 million. For the year ended Dec. 31, 2002, net income rose to $19.6 million from $66,000 in 2001. Revenue increased 40% to $342.4 million. The company has ownership interests in or operates 64 surgical facilities in the U.S., Spain and the U.K. Meanwhile, nursing home operator Beverly Enterprises, Fort Smith, Ark., said Medicare funding reductions and discontinued operations resulted in a net loss of $91 million, or 87 cents per share, for the fourth quarter ended Dec. 31, on revenue of $609.7 million. For the year, Beverly posted a net loss of $146.1 million, or $1.39 per share, on revenue of $2.4 billion. Nursing home occupancy averaged 87.9%, the highest level since 1998, the company said. Contributing to the year-end loss was a $77.2 million charge related to the sale of Beverly's 141 outpatient therapy clinics. Officials called 2002 "a challenging but solid year." In 2001, Beverly had a net loss of $301.3 million. -- by Julie Piotrowski
United Surgical, Beverly issue financial results
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