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HCA Reports Fourth Quarter and Year End 2008 Results
Date:2/3/2009

NASHVILLE, Tenn., Feb. 3 /PRNewswire/ -- HCA today announced financial and operating results for its fourth quarter ended December 31, 2008.

    (Logo:http://www.newscom.com/cgi-bin/prnh/20050825/CLTH069LOGO )

    Fourth Quarter Summary:

     -- Revenues increased 5.6 percent to $7.265 billion.
     -- Net income totaled $276 million, compared to $278 million in the
        fourth quarter of 2007.
     -- Adjusted EBITDA totaled $1.237 billion, compared to $1.153 billion in
        the fourth quarter of 2007.
     -- Interest expense decreased to $500 million, from $541 million in the
        fourth quarter of 2007.
     -- Same facility admissions increased 0.5 percent, and same facility
        equivalent admissions increased 1.8 percent.
     -- Same facility revenue per equivalent admission increased 4.8 percent.
     -- Same facility total surgeries increased 0.4 percent.

Revenues during the fourth quarter of 2008 totaled $7.265 billion, compared to $6.883 billion in the fourth quarter of 2007. On a same facility basis, revenues in the fourth quarter of 2008 increased 6.8 percent compared to the fourth quarter of 2007. Adjusted EBITDA in the fourth quarter of 2008 totaled $1.237 billion, compared to $1.153 billion in the fourth quarter of 2007. Net income for the fourth quarter of 2008 totaled $276 million, compared to $278 million in the fourth quarter of 2007. Results for the fourth quarter of 2008 include gains on sales of facilities of $7 million compared to $139 million in the fourth quarter of 2007. Fourth quarter 2008 results also include an $11 million charge for impairment of long-lived assets.

The provision for doubtful accounts decreased to $889 million, or 12.2 percent of revenues, in the fourth quarter of 2008 from $912 million, or 13.2 percent of revenues, in the fourth q
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SOURCE HCA
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