LifePoint Hospitals, Brentwood, Tenn., said its profits rose 9.7% for the fourth quarter and 65.1% for the year ended Dec. 31, 2003, fed by strong fourth-quarter volume. The company earned $68.5 million, or $1.76 per share, for all of 2003, compared with $41.5 million, or $1.06 per share, for 2002. Revenue grew 22% to $907.1 million. For the quarter, LifePoint earned $19.3 million, or 50 cents per share, compared with $17.6 million, or 44 cents per share, in the year-ago quarter. Revenue was up 17.5%, to $237.3 million, while same-hospital equivalent admissions and outpatient surgeries rose 4.6% and 2.6%, respectively. The fourth-quarter volume growth largely accounted for the company's 1% increase in equivalent admissions for the year. LifePoint has 29 hospitals, including 23 hospitals it's operated for at least one year. -- by Vince Galloro
LifePoint's profits up on late-year volume growth
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