HCA Reports First Quarter 2008 Results( NASHVILLE Tenn. May 6 /- HCA toda...),Health

NASHVILLE, Tenn., May 6 /PRNewswire/ -- HCA today announced financial and operating results for its first quarter ended March 31, 2008.

First Quarter Summary:

-- Revenues increased 6.7 percent to $7.127 billion.

-- Net income totaled $170 million, compared to $180 million in the prior

year's first quarter.

-- Adjusted EBITDA totaled $1.180 billion, compared to $1.276 billion in

the first quarter of 2007.

-- Provision for doubtful accounts increased to $888 million, from $691

million in the prior year.

-- Interest expense decreased to $530 million, from $557 million in the

prior year's first quarter.

-- Same facility admissions increased 0.8 percent, and same facility

equivalent admissions increased 1.1 percent.

-- Same facility revenue per equivalent admission increased 6.9 percent.

-- Surgeries on a same facility basis declined 1.9 percent.

Revenues for the first quarter totaled $7.127 billion, compared to $6.677 billion in the first quarter of 2007. Adjusted EBITDA in the quarter totaled $1.180 billion, compared to $1.276 billion in the previous year's first quarter. A table describing adjusted EBITDA and reconciling net income to adjusted EBITDA for these periods is included in this release. Net income for the first quarter of 2008 totaled $170 million, compared to $180 million in the prior year's first quarter. Results for the first quarter of 2008 include gains on sales of facilities of $51 million compared to $5 million in the first quarter of 2007.

The provision for doubtful accounts increased to $888 million, or 12.5 percent of revenues, in the first quarter of 2008 from $691 million, or 10.3 percent of revenues, in the first quarter of 2007. Same facility uninsured admissions increased 5.3 percent in the first quarter of 2008 compared to the prior year's first quarter.

Interest expense decreased to $530 million in the first
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