Lifepoint Hospitals’ revenues increase 9.4% to $931.1 million in first quarter 2013

LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the first quarter ended March 31, 2013.

“While experiencing soft volumes, we effectively controlled costs and cash flow from operations was strong in the quarter. We are executing the right strategies, which address both current market conditions and position us for healthcare reform, with a focus on expanding existing market share and growing through acquisitions.”

For the first quarter ended March 31, 2013, revenues from continuing operations were $931.1 million, up 9.4% from $851.0 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the first quarter ended March 31, 2013, decreased 42.4% to $32.3 million, or $0.69 per diluted share, compared with $56.0 million, or $1.16 per diluted share, for the same period a year ago, which included a benefit of $0.33 per diluted share relating to the Medicare Rural Floor settlement, as noted below.

The Company is providing the following additional information pertaining to certain items that affected the Company's financial performance for the first quarters ended March 31, 2013 and March 31, 2012:

• Results for the first quarter ended March 31, 2013, included severance costs of $3.2 million, or $0.04 per diluted share, related to the reorganization of the Company's Hospital Support Center,
• Results for the first quarter ended March 31, 2013, included debt extinguishment costs of $4.4 million, or $0.06 per diluted share, as a result of the issuance of Incremental Term Loans and the repurchase of the Company's 2025 Convertible Notes, and
• Results for the first quarter ended March 31, 2012, included the Medicare Rural Floor settlement, which increased revenues by $31.3 million and increased related costs by $5.7 million, for a net impact of $0.33 per diluted share.

In commenting on the results, William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals, said, "While experiencing soft volumes, we effectively controlled costs and cash flow from operations was strong in the quarter. We are executing the right strategies, which address both current market conditions and position us for healthcare reform, with a focus on expanding existing market share and growing through acquisitions."