Community Health Systems, Brentwood, Tenn., said small volume gains, 2004 acquisitions and same-hospital revenue growth offset losses from discontinued operations in the second quarter. The company earned $40.5 million, or 43 cents per share, in the quarter ended June 30, up 5% from $38.4 million, or 37 cents per share, in the year-ago quarter. Revenue rose 19.1% to $918.7 million. In the six months ended June 30, net income fell about 3% to $76.5 million, or 82 cents per share, from $79.2 million, or 77 cents per share, in the year-ago period. Revenue increased 17.8% to $1.83 billion. Community said it took a $5.6 million loss on discontinued operations, related to the sale of four hospitals this year, in the quarter and an $18.7 million loss in the six months. Same-hospital admissions and adjusted admissions rose 0.3% and 1.3%, respectively, in the quarter, while same-hospital revenue grew 9.8%. Community owns or operates 69 hospitals in 21 states. -- by Vince Galloro
Community's profit up 5% on 19% revenue growth
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