NASHVILLE, Tenn., Feb. 7 /PRNewswire/ -- HCA today announced financial
and operating results for the fourth quarter and year ended December 31,
Fourth Quarter Summary:
-- Revenues increased 6.1 percent to $6.883 billion.
-- Net income totaled $278 million, compared to $122 million in the
-- Adjusted EBITDA totaled $1.153 billion, compared to $1.271 billion
in the prior year.
-- Provision for doubtful accounts increased to $912 million, from
$710 million in the prior year.
-- Interest expense increased to $541 million, from $373 million in
the prior year.
-- Same facility admissions decreased 1.0 percent, and same facility
equivalent admissions increased 0.3 percent.
-- Same facility revenue per equivalent admission increased 6.6
"We were pleased with the 2007 results for the Company," stated Jack O. Bovender, Jr., HCA's Chairman and CEO. "Our dedication to the communities we serve, physicians and patients remains our top priority as we begin a new year," concluded Bovender.
Revenues for the fourth quarter totaled $6.883 billion, compared to
$6.489 billion in the fourth quarter of 2006. Adjusted EBITDA in the
quarter totaled $1.153 billion, compared to $1.271 billion in the previous
year's fourth 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 fourth quarter of 2007 totaled $278 million,
compared to $122 million in the prior year's fourth quarter. Results for
the fourth quarter of 2007 include gains on sales of facilities of $139
million and gains on investments of $2 million. Fourth quarter 2006 results
include transaction costs of $433 million related to the November 2006
recapitalization, gains on sales of facilities of $159 million, an a
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