Lifepoint profit up on admissions, lower charges

BRENTWOOD, Tenn. (AP) — LifePoint Hospitals Inc., which focuses on rural communities, said Friday its third-quarter profit surged on an increase in admissions and lower discontinued operations charges.

Net income fell to $31.4 million, or 58 cents per share, from $8.5 million, or 16 cents per share, a year earlier, when results were weighed down by an impairment charge for discontinued operations.

LifePoint said it earned 59 cents per share from continuing operations. Analysts surveyed by Thomson Reuters expected a profit of 56 cents per share

Revenue rose 10 percent, to $745 million from $675.1 million. Analysts anticipated revenue of $729.9 million.

Admissions rose less than 1 percent, to about 46,354 patients. The company also added a hospital during the quarter, bringing the total to 47.

LifePoint maintained its profit guidance for 2009 of between $2.35 per share and $2.55 per share on revenue between $2.9 billion and $3 billion. Analysts expect profit of $2.44 per share on $2.94 billion in revenue.

Shares of LifePoint closed at $29 Thursday.