LifePoint Hospitals, Inc. today announced results for the fourth quarter and year ended December 31, 2010.
For the fourth quarter ended December 31, 2010, revenues from continuing operations were $853.3 million, up 14.3% from $746.9 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the fourth quarter ended December 31, 2010, decreased 5.5% to $36.3 million, or $0.70 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders of $38.6 million, or $0.71 per diluted share, for the same period last year. Net income attributable to LifePoint Hospitals, Inc. stockholders for the fourth quarter ended December 31, 2010, was $36.2 million, or $0.70 per diluted share, compared with $38.0 million, or $0.70 per diluted share, for the same period last year.
For the year ended December 31, 2010, revenues from continuing operations were $3,262.4 million, up 10.1% from $2,962.7 million for 2009. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for 2010 increased 11.9% to $155.6 million, or $2.91 per diluted share, compared with income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders of $139.2 million, or $2.59 per diluted share, for 2009. Net income attributable to LifePoint Hospitals, Inc. stockholders for 2010 was $155.5 million, or $2.91 per diluted share, compared with $134.1 million, or $2.49 per diluted share, for 2009.
In commenting on the results, William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals, said, "In 2010, we produced solid growth and achieved the high end of our guidance range despite the challenging economic environment. Our strong balance sheet is a valuable asset, and we have the flexibility to invest in our key strategies of improving quality care, growing both organically and through acquisitions and driving further operational efficiencies.
"The acquisition environment is rich with opportunities, and we are well positioned to capitalize on transactions that meet our criteria. We're enthusiastic about our recently announced joint venture with Duke University Health System to buy and operate community hospitals in the North Carolina and surrounding markets. The Duke/LifePoint partnership is an example of the innovative way we think about our business, underscores our commitment to quality care and is a tremendous opportunity for value creation."