Universal Health Services, Inc. Consolidated Statements of Income March 2003 (in thousands, except per share amounts) (unaudited)
| |
Three months ended March 31, |
| |
2003 |
2002 |
| Net revenues |
$894,808 |
$804,371 |
| Operating charges: |
|
|
| Salaries, wages and benefits |
355,782 |
319,707 |
| Other operating expenses |
203,910 |
191,896 |
| Supplies expense |
120,737 |
103,508 |
| Provision for doubtful accounts |
65,420 |
57,894 |
| Depreciation and amortization |
34,537 |
29,408 |
| Lease and rental expense |
15,821 |
15,190 |
| Interest expense, net |
9,855 |
8,964 |
| Gain on foreign exchange and derivative transactions |
(6) |
(234) |
| |
806,056 |
726,333 |
| Income before minority interests and income taxes |
88,752 |
78,038 |
| Minority interests in earnings of consolidated entities |
5,030 |
5,873 |
| Income before income taxes |
83,722 |
72,165 |
| Provision for income taxes |
30,932 |
26,492 |
| Net income |
$52,790 |
$45,673 |
| Earnings per common share - basic |
$0.91 |
$0.76 |
| Earnings per common share - diluted |
$0.84 |
$0.71 |
| Weighted average number of common shares - basic |
58,277 |
59,862 |
| Weighted average number of common share equivalents |
7,319 |
7,186 |
| Weighted average number of common shares and equiv. - diluted |
65,596 |
67,048 |
| EARNINGS PER SHARE CALCULATION |
|
|
| Net income |
$52,790 |
$45,673 |
| Add: Debenture interest, net of taxes |
2,177 |
2,092 |
| Adjusted net income |
$54,967 |
$47,765 |
| |
|
|
| Weighted average number of common shares - basic |
58,277 |
59,862 |
| Add: Shares for conversion of convertible debentures |
6,577 |
6,577 |
| Other share equivalents |
742 |
609 |
| Weighted average number of common shares and equiv. - diluted |
65,596 |
67,048 |
| |
|
|
| Earnings per common share - diluted |
$0.84 |
$0.71 |
|