LifePoint Hospitals 4th-quarter profit rises 36 percent as outpatient and ER visits increased

LifePoint Hospitals 4Q profit climbs on admissions

BRENTWOOD, Tenn. — LifePoint Hospitals Inc., a rural hospital operator, said Friday its profit rose 36 percent in the fourth quarter despite the weak economy, as outpatient treatment increased.

LifePoint said it earned $38 million, or 70 cents per share. That’s up from $28 million, or 53 cents per share, in the fourth quarter of 2008. Its revenue rose 11 percent to $746.9 million from $674.9 million.

On average, analysts were expecting net income of 60 cents per share and $746.8 million in revenue, according to Thomson Reuters.

LifePoint runs 47 acute care facilities in 17 states. It is the only community hospital operator in 44 of its communities. While inpatient procedures continued to decline due to the weak economy, and patients stayed for shorter periods of time, outpatient admissions and emergency room visits both increased.

The company said adjusted admissions, which include both inpatient and outpatient visits, rose compared to a year ago. It also got more revenue for each patient it admitted.

For the year 2009, LifePoint said its profit climbed 30 percent to $134.1 million, or $2.49 per share, from $103 million, or $1.93 per share. Revenue grew 10 percent to $2.96 billion from $2.7 billion.

The company is forecasting a profit of $2.50 to $2.80 per share this year, on $3.1 billion to $3.2 billion in revenue. Analysts expect a profit of $2.66 per share in 2010, on revenue of $3.13 billion.

In afternoon trading, LifePoint shares rose $1.44, or 4.7 percent, to $31.84.