Universal Health Services, Inc. Consolidated Statements of Income March 2002 (in thousands, except per share amounts) (unaudited)
| |
Three months ended March 31, |
| |
2002 |
2001 |
| Net revenues |
$804,371 |
$676,949 |
| Operating charges: |
| Salaries, wages and benefits |
319,707 |
268,282 |
| Other operating expenses |
191,896 |
150,906 |
| Supplies expense |
103,508 |
89,368 |
| Provision for doubtful accounts |
57,894 |
55,227 |
| Depreciation and amortization |
29,408 |
29,795 |
| Lease and rental expense |
15,190 |
12,640 |
| Interest expense, net |
8,964 |
8,456 |
| |
726,567 |
614,674 |
| |
| Income before minority interests, effect of foreign exchange and derivative transactions and income taxes |
77,804 |
62,275 |
| Minority interests in earnings of consolidated entities |
5,873 |
3,925 |
| (Gains) Losses on foreign exchange and derivative transactions |
(234) |
1,427 |
| Income before income taxes |
72,165 |
56,923 |
| Provision for income taxes |
26,492 |
20,752 |
| Net income |
$45,673 |
$36,171 |
| Earnings per common share - basic |
$0.76 |
$0.60 |
| Earnings per common share - diluted |
$0.71 |
$0.57 |
| Weighted average number of common shares - basic |
59,862 |
59,828 |
| Weighted average number of common share equivalents |
7,186 |
7,320 |
| Weighted average number of common shares and equiv. - diluted |
67,048 |
67,148 |
| |
| EARNINGS PER SHARE CALCULATION |
|
|
| Net income |
$45,673 |
$36,171 |
| Add: Debenture interest, net of taxes |
2,092 |
1,970 |
| Adjusted net income |
$47,765 |
$38,141 |
| Weighted average number of common shares - basic |
59,862 |
59,828 |
| Add: Shares for conversion of convertible debentures |
6,578 |
6,578 |
| Other share equivalents |
608 |
742 |
| Weighted average number of common shares and equiv. - diluted |
67,048 |
67,148 |
| Earnings per common share - diluted |
$0.71 |
$0.57 |
|