KING OF PRUSSIA, Pa., July 26 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. announced today that its reported net income attributable to UHS was $65.6 million, or $.67 per diluted share, during the second quarter of 2010 as compared to $80.9 million, or $.82 per diluted share, during the comparable prior year quarter. Net revenues increased 3% to $1.34 billion during the second quarter of 2010 as compared to $1.30 billion during the second quarter of 2009.
After adjusting the reported results for the second quarters of 2010 and 2009 to neutralize the impact of the below-mentioned adjustments, our adjusted net income attributable to UHS was $66.7 million, or $.68 per diluted share, during the second quarter of 2010 as compared to $71.1 million, or $.72 per diluted share, during the second quarter of 2009.
As indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedules"), included in our net income attributable to UHS during the three and six-month periods ended June 30, 2010, was a net loss of $1.1 million, or $.01 per diluted share, consisting of: (i) a favorable after-tax adjustment of $10.2 million, or $.10 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2010 based upon a reserve analysis, offset by; (ii) the unfavorable after-tax impact of $11.3 million, or $.11 per diluted share, resulting from the recording of transaction fees incurred in connection with our previously announced agreement to acquire Psychiatric Solutions, Inc.
As indicated on the attached Supplemental Schedules, included in our net income attributable to UHS during the three and six-month periods ended June 30, 2009, was net income of $9.8 million, or $.10 per diluted share, consisting of: (i) a favorable after-tax adjustment of $14.1 million, or $.14 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2009 based upon a reserve analysis, partially offset by; (ii) an unfavorable discrete tax item of $4.3 million, or $.04 per diluted share.
Consolidated Results of Operations - Six-month periods ended June 30, 2010 and 2009:
During the six-month period ended June 30, 2010, our reported net income attributable to UHS was $137.4 million, or $1.40 per diluted share, as compared to $148.4 million, or $1.50 per diluted share, during the comparable prior year period. Net revenues increased 3% to $2.69 billion during the first six months of 2010 as compared to $2.62 billion during the first six months of 2009.
After adjusting the reported results for six-month periods ended June 30, 2010 and 2009 to neutralize the impact of the above-mentioned adjustments, our adjusted net income attributable to UHS was $138.5 million, or $1.41 per diluted share, during the first six months of 2010 as compared to $138.6 million, or $1.40 per diluted share, during the first six months of 2009.
Acute Care Services - Three-month periods ended June 30, 2010 and 2009:
At our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) increased 1.9% while adjusted patient days increased 0.3% during the second quarter of 2010, as compared to the second quarter of 2009. Net revenues at these facilities increased 2.2% during the second quarter of 2010 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission during the second quarter of 2010 increased 0.3% while net revenue per adjusted patient day increased 1.9% as compared to the comparable quarter of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 14.2% during the second quarter of 2010 as compared to 16.9% during the second quarter of 2009.
We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $190 million and $181 million during the three-month periods ended June 30, 2010 and 2009, respectively.
Acute Care Services - Six-month periods ended June 30, 2010 and 2009:
During the six-month period ended June 30, 2010, on a same facility basis, adjusted admissions increased 1.8% while adjusted patient days increased 0.5% over the comparable prior year period. Net revenues at these facilities increased 2.6% during the second quarter of 2010 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 0.8% while net revenue per adjusted patient day increased 2.2% during the second quarter of 2010 as compared to the comparable quarter of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 15.2% during the second quarter of 2010 as compared to 17.2% during the second quarter of 2009.
Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $366 million and $340 million during the six-month periods ended June 30, 2010 and 2009, respectively.
Behavioral Health Care Services - Three-month periods ended June 30, 2010 and 2009:
At our behavioral health care facilities, on a same facility basis, adjusted admissions increased 4.7% and adjusted patient days increased 2.4% during the second quarter of 2010 as compared to the second quarter of 2009. Net revenues at these facilities increased 5.5% during the second quarter of 2010 as compared to the comparable quarter in the prior year. At these facilities, net revenue per adjusted admission during the second quarter of 2010 increased 0.1% while net revenue per adjusted patient day increased 2.3% as compared to the comparable prior year quarter. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 27.9% during the second quarter of 2010 as compared to 25.9% during the second quarter of 2009.
Behavioral Health Care Services - Six-month periods ended June 30, 2010 and 2009:
During the six-month period ended June 30, 2010, on a same facility basis, adjusted admissions increased 4.2% and adjusted patient days increased 3.1% during the first six months of 2010 as compared to the comparable period of 2009. Net revenues at these facilities increased 6.1% during the first six months of 2010 as compared to the comparable prior year period. At these facilities, net revenue per adjusted admission increased 1.4% while net revenue per adjusted patient day increased 2.5% during the first six months of 2010 over the comparable prior year period. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 27.0% during the first six months of 2010 as compared to 25.2% during the comparable period of 2009.
Dividends Declared:
On July 21, 2010, our Board of Directors approved a cash dividend of $0.05 per share payable on September 15, 2010 to shareholders of record as of September 1, 2010.
Conference Call Information:
We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on July 27, 2010. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on July 27, 2010 and will continue through midnight on August 10, 2010. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 88336222. A live broadcast of the call will be available on our web site at http://www.uhsinc.com/. The webcast will be available through Thompson StreetEvents Network at http://www.earnings.com/ or http://www.streetevents.com/, a password-protected event management site for institutional investors.
General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:
Universal Health Services, Inc. ("UHS") is one of the nation's largest hospital companies operating, through its subsidiaries, acute care hospitals, behavioral healthcare facilities and ambulatory centers located throughout the United States and Puerto Rico. UHS acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust . For additional information on the Company, visit our web site: http://www.uhsinc.com/.
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2009 and in Item 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended March 31, 2010), may cause the results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2009 and Report on Form 10-Q for the quarterly period ended March 31, 2010. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.
(more) Universal Health Services, Inc. ------------------------------- Consolidated Statements of Income --------------------------------- (in thousands, except per share amounts) (unaudited) Three months Six months ended June 30, ended June 30, -------------- -------------- 2010 2009 2010 2009 ---- ---- ---- ---- Net revenues $1,338,315 $1,303,640 $2,685,468 $2,616,059 Operating charges: Salaries, wages and benefits 563,552 541,950 1,142,478 1,083,247 Other operating expenses 249,114 232,894 496,142 506,115 Supplies expense 179,926 176,411 363,742 350,378 Provision for doubtful accounts 143,764 120,670 269,154 239,648 Depreciation and amortization 54,025 51,085 107,536 102,219 Lease and rental expense 18,185 17,587 36,119 34,659 1,208,566 1,140,597 2,415,171 2,316,266 --------- --------- --------- --------- Income from operations 129,749 163,043 270,297 299,793 Interest expense, net 12,277 11,879 24,654 24,517 ------ ------ ------ ------ Income before income taxes 117,472 151,164 245,643 275,276 Provision for income taxes 41,057 57,187 86,466 99,265 ------ ------ ------ ------ Net income 76,415 93,977 159,177 176,011 Less: Income attributable to noncontrolling interests 10,843 13,084 21,786 27,577 Net income attributable to UHS $65,572 $80,893 $137,391 $148,434 ======= ======= ======== ======== Basic earnings per share attributable to UHS (a) $0.68 $0.82 $1.42 $1.51 ===== ===== ===== ===== Diluted earnings per share attributable to UHS (a) $0.67 $0.82 $1.40 $1.50 ===== ===== ===== ===== Universal Health Services, Inc. ------------------------------- Footnotes to Consolidated Statements of Income ---------------------------------------------- (in thousands, except per share amounts) (unaudited) Three months Six months ended June 30, ended June 30, -------------- -------------- 2010 2009 2010 2009 ---- ---- ---- ---- (a) Earnings per share calculation: ---------------------- Basic and diluted: ------------------ Net income attributable to UHS $65,572 $80,893 $137,391 $148,434 Less: Net income attributable to unvested restricted share grants (278) (381) (593) (695) ---- ---- ---- ---- Net income attributable to UHS -basic and diluted $65,294 $80,512 $136,798 $147,739 ======= ======= ======== ======== Weighted average number of common shares - basic 96,703 97,700 96,621 98,056 ------ ------ ------ ------ Basic earnings per share attributable to UHS: $0.68 $0.82 $1.42 $1.51 ===== ===== ===== ===== Weighted average number of common shares 96,703 97,700 96,621 98,056 Add: Other share equivalents 1,351 404 1,131 202 Weighted average number of common shares and equiv. -diluted 98,054 98,104 97,752 98,258 ------ ------ ------ ------ Diluted earnings per share attributable to UHS: $0.67 $0.82 $1.40 $1.50 ===== ===== ===== ===== Universal Health Services, Inc. ------------------------------- Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule") ------------------------------------------------------------------- For the three months ended June 30, 2010 and 2009 ------------------------------------------------- (in thousands, except per share amounts) (unaudited) Three months ended Three months ended June 30, 2010 June 30, 2009 ------------- ------------- Net revenues $1,338,315 100.0% $1,303,640 100.0% Operating charges: Salaries, wages and benefits 563,552 42.1% 541,950 41.6% Other operating expenses 249,114 18.6% 232,894 17.9% Supplies expense 179,926 13.4% 176,411 13.5% Provision for doubtful accounts 143,764 10.7% 120,670 9.3% 1,136,356 84.9% 1,071,925 82.2% --------- ---- --------- ---- Operating income/ margin 201,959 15.1% 231,715 17.8% Lease and rental expense 18,185 17,587 Income attributable to noncontrolling interests 10,843 13,084 ------ ------ Earnings before, depreciation and amortization, interest expense, and income taxes 172,931 201,044 Depreciation and amortization 54,025 51,085 Interest expense, net 12,277 11,879 ------ ------ Income before income taxes 106,629 138,080 Provision for income taxes 41,057 57,187 ------ ------ Net income attributable to UHS $65,572 $80,893 ======= ======= Three months ended Three months ended June 30, 2010 June 30, 2009 ------------- ------------- Per Per Diluted Diluted Amount Share Amount Share ------ -------- ------ -------- Calculation of Adjusted Net Income Attributable to UHS ------------- Net income attributable to UHS $65,572 $0.67 $80,893 $0.82 Plus/minus adjustments: Reduction of reserves relating to prior years for professional and general liability self- insured claims, net of income taxes (10,198) (0.10) (14,168) (0.14) Acquisition transaction costs, net of income taxes 11,288 0.11 - - Unfavorable discrete tax item - - 4,331 0.04 Subtotal after-tax adjustments to net income attributable to UHS 1,090 0.01 (9,837) (0.10) ----- ---- ------ ----- Adjusted net income attributable to UHS $66,662 $0.68 $71,056 $0.72 ======= ===== ======= ===== Universal Health Services, Inc. ------------------------------- Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule") ------------------------------------------------------------------- For the six months ended June 30, 2010 and 2009 ----------------------------------------------- (in thousands, except per share amounts) (unaudited) Six months ended Six months ended June 30, 2010 June 30, 2009 ------------- ------------- Net revenues $2,685,468 100.0% $2,616,059 100.0% Operating charges: Salaries, wages and benefits 1,142,478 42.5% 1,083,247 41.4% Other operating expenses 496,142 18.5% 506,115 19.3% Supplies expense 363,742 13.5% 350,378 13.4% Provision for doubtful accounts 269,154 10.0% 239,648 9.2% 2,271,516 84.6% 2,179,388 83.3% --------- ---- --------- ---- Operating income/ margin 413,952 15.4% 436,671 16.7% Lease and rental expense 36,119 34,659 Income attributable to noncontrolling interests 21,786 27,577 ------ ------ Earnings before, depreciation and amortization, interest expense, and income taxes 356,047 374,435 Depreciation and amortization 107,536 102,219 Interest expense, net 24,654 24,517 ------ ------ Income before income taxes 223,857 247,699 Provision for income taxes 86,466 99,265 ------ ------ Net income attributable to UHS $137,391 $148,434 ======== ======== Six months ended Six months ended June 30, 2010 June 30, 2009 ------------- ------------- Per Per Diluted Diluted Amount Share Amount Share ------ -------- ------ -------- Calculation of Adjusted Net Income Attributable to UHS ------------- Net income attributable to UHS $137,391 $1.40 $148,434 $1.50 Plus/minus adjustments: Reduction of reserves relating to prior years for professional and general liability self- insured claims, net of income taxes (10,198) (0.10) (14,168) (0.14) Acquisition transaction costs, net of income taxes 11,288 0.11 - - Unfavorable discrete tax item - - 4,331 0.04 Subtotal after-tax adjustments to net income attributable to UHS 1,090 0.01 (9,837) (0.10) ----- ---- ------ ----- Adjusted net income attributable to UHS $138,481 $1.41 $138,597 $1.40 ======== ===== ======== ===== Universal Health Services, Inc. ------------------------------- Condensed Consolidated Balance Sheets ------------------------------------- (in thousands, unaudited) As revised (a) June 30, December 31, 2010 2009 ---- ---- Assets Current assets: Cash and cash equivalents $12,337 $9,180 Accounts receivable, net 618,855 602,559 Supplies 84,683 84,272 Other current assets 38,985 27,270 Deferred income taxes 51,109 51,336 Current assets held for sale 16,250 21,580 Total current assets 822,219 796,197 ------- ------- Property and equipment 3,818,209 3,738,818 Less: accumulated depreciation (1,510,592) (1,423,580) 2,307,617 2,315,238 --------- --------- Other assets: Goodwill 732,754 732,685 Deferred charges 8,864 8,643 Other 118,303 111,700 $3,989,757 $3,964,463 ========== ========== Liabilities and Stockholders' Equity Current liabilities: Current maturities of long- term debt $2,032 $2,573 Accounts payable and accrued liabilities 552,794 578,617 Federal and state taxes 3,298 1,627 Total current liabilities 558,124 582,817 ------- ------- Other noncurrent liabilities 346,310 375,580 Long-term debt 881,344 956,429 Deferred income taxes 68,386 60,091 Redeemable noncontrolling interest 205,463 197,152 UHS common stockholders' equity 1,887,365 1,751,071 Noncontrolling interest 42,765 41,323 ------ ------ Total equity 1,930,130 1,792,394 $3,989,757 $3,964,463 ========== ========== (a) We have revised our Condensed Consolidated Balance Sheet at December 31, 2009 to reclassify $197.2 million of noncontrolling interests, which are redeemable outside of our control, from total equity to mezzanine equity. This revision did not affect UHS's common stockholders' equity. We do not believe this revision is material to the Condensed Consolidated Balance Sheet at December 31, 2009. Universal Health Services, Inc. ------------------------------- Consolidated Statements of Cash Flows ------------------------------------- (in thousands) (unaudited) Six months ended June 30, -------------- 2010 2009 ---- ---- Cash Flows from Operating Activities: Net income $159,177 $176,011 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation & amortization 107,536 102,219 Net gain on sale of assets and noncontrolling interests (1,993) 0 Stock-based compensation expense 8,327 6,602 Changes in assets & liabilities, net of effects from acquisitions and dispositions: Accounts receivable (16,523) 4,392 Construction management and other receivable 0 21,003 Accrued interest (1,757) 106 Accrued and deferred income taxes 3,946 7,934 Other working capital accounts (15,753) (1,499) Other assets and deferred charges (6,870) 3,844 Other (4,513) (3,273) Accrued insurance expense, net of commercial premiums paid 15,491 13,323 Payments made in settlement of self- insurance claims (27,698) (29,823) Net cash provided by operating activities 219,370 300,839 ------- ------- Cash Flows from Investing Activities: Property and equipment additions, net of disposals (121,640) (183,248) Proceeds received from sale of assets 5,000 0 Acquisition of property and business 0 (9,006) Net cash used in investing activities (116,640) (192,254) -------- -------- Cash Flows from Financing Activities: Reduction of long-term debt (77,974) (77,356) Additional borrowings 0 170 Repurchase of common shares (3,703) (15,437) Dividends paid (9,693) (7,890) Issuance of common stock 3,833 1,350 Profit distributions to noncontrolling interests (12,336) (4,259) Proceeds from sale of noncontrolling interest in majority owned business 300 0 Net cash used in financing activities (99,573) (103,422) ------- -------- Increase in cash and cash equivalents 3,157 5,163 Cash and cash equivalents, beginning of period 9,180 5,460 Cash and cash equivalents, end of period $12,337 $10,623 ======= ======= Supplemental Disclosures of Cash Flow Information: Interest paid $29,783 $28,723 ======= ======= Income taxes paid, net of refunds $79,943 $90,942 ======= ======= Universal Health Services, Inc. Supplemental Statistical Information (un-audited) % Change % Change Quarter 6 months Ended ended Same Facility: 6/30/2010 6/30/2010 -------------- --------- --------- Acute Care Hospitals -------------------- Revenues 2.2% 2.6% Adjusted Admissions 1.9% 1.8% Adjusted Patient Days 0.3% 0.5% Revenue Per Adjusted Admission 0.3% 0.8% Revenue Per Adjusted Patient Day 1.9% 2.2% Behavioral Health Hospitals --------------------------- Revenues 5.5% 6.1% Adjusted Admissions 4.7% 4.2% Adjusted Patient Days 2.4% 3.1% Revenue Per Adjusted Admission 0.1% 1.4% Revenue Per Adjusted Patient Day 2.3% 2.5% UHS Consolidated Second Quarter Ended Six months Ended ------------- -------------------- ---------------- 6/30/2010 6/30/2009 6/30/2010 6/30/2009 --------- --------- --------- --------- Revenues $1,338,315 $1,303,640 $2,685,468 $2,616,059 EBITDA (1) 174,021 186,876 357,137 360,267 EBITDA Margin (1) 13.0% 14.3% 13.3% 13.8% Cash Flow From Operations 83,363 148,585 219,370 300,839 Days Sales Outstanding 42 42 42 41 Capital Expenditures 59,064 105,029 121,640 183,248 Debt 883,376 921,878 UHS Shareholders Equity 1,877,365 1,677,996 Debt /Total Capitalization 32.0% 35.5% Debt /EBITDA (2) 1.30 1.50 Debt /Cash From Operations (2) 1.96 1.55 Acute Care EBITDAR Margin (3) 14.2% 16.9% 15.2% 17.2% Behavioral Health EBITDAR Margin (3) 27.8% 26.5% 26.7% 25.4% (1) Net of Minority Interest and before prior year self insurance reserve adjustments (net of taxes) booked in 2010 and 2009 and transaction related expenses (net of taxes) booked in 2010 (2) Latest 4 quarters (3) Before Corporate overhead allocation, minority interest and prior year self insurance reserve adjustment booked in 2010 and 2009 UNIVERSAL HEALTH SERVICES, INC. SELECTED HOSPITAL STATISTICS FOR THE THREE MONTHS ENDED JUNE 30, 2010 AS REPORTED: ------------ ACUTE 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 21 21 0.0% Average licensed beds 5,689 5,465 4.1% Patient days 286,230 289,644 -1.2% Average daily census 3,145.4 3,182.9 -1.2% Occupancy- licensed beds 55.3% 58.2% -5.1% Admissions 66,208 65,946 0.4% Length of stay 4.3 4.4 -1.6% Inpatient revenue $2,624,502 $2,469,774 6.3% Outpatient revenue 1,171,634 1,047,095 11.9% Total patient revenue 3,796,136 3,516,869 7.9% Other revenue 19,187 19,102 0.4% Gross hospital revenue 3,815,323 3,535,971 7.9% Total deductions 2,841,313 2,583,135 10.0% Net hospital revenue $974,010 $952,836 2.2% AS REPORTED: ------------ BEHAVIORAL HEALTH 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 82 81 1.2% Average licensed beds 7,980 7,857 1.6% Patient days 544,629 529,536 2.9% Average daily census 5,984.9 5,819.1 2.9% Occupancy- licensed beds 75.0% 74.1% 1.3% Admissions 36,573 34,059 7.4% Length of stay 14.9 15.5 -4.2% Inpatient revenue $554,141 $524,246 5.7% Outpatient revenue 81,987 72,513 13.1% Total patient revenue 636,128 596,759 6.6% Other revenue 7,224 8,342 -13.4% Gross hospital revenue 643,352 605,101 6.3% Total deductions 286,344 272,512 5.1% Net hospital revenue $357,008 $332,589 7.3% SAME FACILITY: -------------- ACUTE 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 21 21 0.0% Average licensed beds 5,689 5,465 4.1% Patient days 286,230 289,644 -1.2% Average daily census 3,145.4 3,182.9 -1.2% Occupancy-licensed beds 55.3% 58.2% -5.1% Admissions 66,208 65,946 0.4% Length of stay 4.3 4.4 -1.6% SAME FACILITY: -------------- BEHAVIORAL HEALTH (1) 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 79 79 0.0% Average licensed beds 7,778 7,705 0.9% Patient days 537,746 526,672 2.1% Average daily census 5,909.3 5,787.6 2.1% Occupancy-licensed beds 76.0% 75.1% 1.1% Admissions 35,524 34,042 4.4% Length of stay 15.1 15.5 -2.2% (1) Ascent, Centennial Peaks, Crescent Pines, The Hope program, and Springwoods Behavioral are excluded in both current and prior years. Coastal Behavioral is included in March 1st thru year to date. UNIVERSAL HEALTH SERVICES, INC. SELECTED HOSPITAL STATISTICS FOR THE SIX MONTHS ENDED JUNE 30, 2010 AS REPORTED: ------------ ACUTE 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 21 21 0.0% Average licensed beds 5,689 5,465 4.1% Patient days 591,924 596,920 -0.8% Average daily census 3,270.3 3,297.9 -0.8% Occupancy-licensed beds 57.5% 60.3% -4.7% Admissions 134,846 134,144 0.5% Length of stay 4.4 4.4 -1.4% Inpatient revenue $5,407,933 $5,049,913 7.1% Outpatient revenue 2,288,559 2,042,794 12.0% Total patient revenue 7,696,492 7,092,707 8.5% Other revenue 34,990 36,777 -4.9% Gross hospital revenue 7,731,482 7,129,484 8.4% Total deductions 5,768,161 5,216,799 10.6% Net hospital revenue $1,963,321 $1,912,685 2.6% AS REPORTED: ------------ BEHAVIORAL HEALTH 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 83 83 0.0% Average licensed beds 7,975 7,826 1.9% Patient days 1,083,379 1,042,470 3.9% Average daily census 5,952.6 5,727.9 3.9% Occupancy-licensed beds 74.6% 73.2% 2.0% Admissions 72,930 68,020 7.2% Length of stay 14.9 15.3 -3.1% Inpatient revenue $1,098,922 $1,027,927 6.9% Outpatient revenue 159,964 140,641 13.7% Total patient revenue 1,258,886 1,168,568 7.7% Other revenue 15,632 16,251 -3.8% Gross hospital revenue 1,274,518 1,184,819 7.6% Total deductions 568,328 530,077 7.2% Net hospital revenue $706,190 $654,742 7.9% SAME FACILITY: -------------- ACUTE 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 21 21 0.0% Average licensed beds 5,689 5,465 4.1% Patient days 591,924 596,920 -0.8% Average daily census 3,270.3 3,297.9 -0.8% Occupancy-licensed beds 57.5% 60.3% -4.7% Admissions 134,846 134,144 0.5% Length of stay 4.4 4.4 -1.4% SAME FACILITY: -------------- BEHAVIORAL HEALTH (1) 06/30/10 06/30/09 % change -------- -------- --------- Hospitals owned and leased 79 79 0.0% Average licensed beds 7,757 7,674 1.1% Patient days 1,068,443 1,036,334 3.1% Average daily census 5,903.0 5,725.6 3.1% Occupancy-licensed beds 76.1% 74.6% 2.0% Admissions 70,819 67,979 4.2% Length of stay 15.1 15.2 -1.0% (1) Ascent, Centennial Peaks, Crescent Pines, The Hope program, and Springwoods Behavioral are excluded in both current and prior years. Coastal Behavioral is included in March 1st thru year to date.
Universal Health Services, Inc.
CONTACT: Steve Filton, Chief Financial Officer, +1-610-768-3300
Web Site: http://www.uhsinc.com/
