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Universal Health Services, Inc. Reports 30% Increase in 2008 First Quarter Earnings Per Diluted Share
Date:4/24/2008

Consolidated Results of Operations:

KING OF PRUSSIA, Pa., April 24 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income was $61.7 million, or $1.20 per diluted share, during the first quarter of 2008 as compared to $49.5 million, or $.92 per diluted share, during the comparable prior year quarter. After adjusting our first quarter of 2007 results for hurricane related expenses and the gain realized on the sale of vacant land (as indicated on the attached Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information), our net income for the three months ended March 31, 2007 was $47.9 million, or $.89 per diluted share. There were no such adjustments applicable to our results during the first quarter of 2008.

Net revenues increased 8% to $1.30 billion during the first quarter of 2008 as compared to $1.20 billion during the first quarter of 2007. Our consolidated operating margin, as calculated on the attached Supplemental Schedule (without adjusting the 2007 first quarter results for the items mentioned above), was 14.8% and 13.9% during the three-month periods ended March 31, 2008 and 2007, respectively.

Acute Care Services:

At our acute care hospitals owned during both periods ("same facility basis"), inpatient admissions increased 0.8% and patient days increased 2.0% during the first quarter of 2008 as compared to the first quarter of 2007. On a same facility basis, net revenues at our acute care facilities increased 6.9% during the first quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted admission at these facilities increased 5.3% during the first quarter of 2008 over the com
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SOURCE Universal Health Services, Inc.
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