HealthSouth Corp., Birmingham, Ala., issued a restatement of its earnings for 2000 and 2001 and filed complete fiscal-year earnings for 2002 and 2003 for the first time. In 2003, HealthSouth lost $434.56 million, or $1.10 per share, on revenue of $3.96 billion and in 2002 the company lost $466.82 million, or $1.18 per share, on revenue of $3.96 billion. The company decreased its 2001 revenue by $827 million to $3.55 billion and HealthSouth lost $191.2 million, or 49 cents per share, instead of making previously stated $202.4 million, or 51 cents per share. For 2000, the company decreased revenue by $697 million to $3.5 billion and lost $364.2 million, or 94 cents per share, instead of gaining $278 million, or 71 cents per share. The Justice Department said the company faked its income by $576.03 million in 2001 and $348.95 million in 2000, in a superseding indictment against the company's founder and former chief executive officer, Richard Scrushy. -- by Joseph Mantone
HealthSouth restates, reports 2000-2003 earnings
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