Iasis Healthcare, Franklin, Tenn., said profits more than doubled in its fiscal fourth quarter thanks to growing patient volume, but that wasnt quite enough to push full-year earnings ahead of fiscal 2005 earnings. Iasis earned $11.1 million in its fourth quarter ended Sept. 30, up from $4.4 million in the year-ago quarter. Revenue rose 9.1% to $407.6 million. For the fiscal year, profits were $39.5 million, down 2.6% from profits of $40.6 million in fiscal 2005. The decline came despite $4.8 million in hurricane-related costs in fiscal 2005 and $9 million in hurricane-related insurance payments received in fiscal 2006. Iasis and its insurer havent reached a final settlement of lost-business claims for Iasis hospital in Port Arthur, Texas, which was hit by Hurricane Rita last fall. For the quarter, Iasis same-facility admissions were up 3.5% and same-facility adjusted admissions rose 1.2%. For the fiscal year, same-hospital volume declined slightly -- with admissions falling 0.2% and adjusted admissions down 0.3%. Iasis owns or operates 14 acute-care hospitals and one behavioral-health hospital in five states. -- by Vince Galloro
Iasis profits helped by volume growth
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