LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the fourth quarter and year ended December 31, 2012.
For the fourth quarter ended December 31, 2012, revenues from continuing operations were $893.3 million, up 14.3% from $781.3 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, 2012, decreased 3.3% to $36.5 million, or $0.76 per diluted share, compared with $37.7 million, or $0.78 per diluted share, for the same period a year ago.
For the year ended December 31, 2012, revenues from continuing operations were $3,391.8 million, up 12.1% from $3,026.1 million for 2011. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for 2012 decreased 6.6% to $151.9 million, or $3.14 per diluted share, compared with $162.7 million, or $3.22 per diluted share, for 2011.
In commenting on the results, William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals, said, "In the fourth quarter, LifePoint delivered improved volumes, good cost controls, strong cash flow from operations and earnings at the top end of our revised guidance range. We are identifying new opportunities to purchase hospitals that we believe will complement our strategy to develop regional integrated health systems. Our balanced approach to capital deployment has allowed us to create value for shareholders, and we look forward to the opportunities ahead in 2013."
On February 6, 2013, the Company amended its senior secured credit agreement with, among others, Citibank, N.A., as administrative agent, and the lenders party thereto pursuant to which it issued $325.0 million of incremental term loans (the "Incremental Term Loans"). The Company currently intends to use the proceeds from the Incremental Term Loans to repurchase $225.0 million of its 3¼% convertible senior subordinated debentures due August 15, 2025, that are putable by the holders thereof to the Company on February 15, 2013, and, subject to market conditions, callable by the Company on or after February 20, 2013, as well as to pay fees and expenses related to the issuance of the Incremental Term Loans. The Company intends to use the remaining proceeds of the Incremental Term Loans for general corporate purposes.