Tenet Healthcare Corp., Dallas, said 2009 produced its best financial performance in seven years, but cautioned that 2010 would be a transition year typified by higher spending on labor and information technology.
Tenet recorded fourth-quarter profits of $21 million compared with a fourth-quarter loss of $33 million in 2008. Revenue increased 3.9% to $2.26 billion. For the full year, Tenet reported net income of $181 million vs. a profit of $25 million in 2008. Revenue increased 5% to $9.01 billion. Control of labor and supply expenses helped fuel an operating margin of 6% for the full year compared with 3.6% in 2008.