Universal Health Services, Inc.
Consolidated Statements of Income
March 1999
(in thousands, except per share amounts)
(unaudited)

  Three months ended
March 31,
  1999 1998
Net revenues $520,095 $463,117
Operating charges:    
  Operating expenses 203,107 180,951
  Salaries and wages 178,634 161,125
  Provision for doubtful accounts 40,926 37,266
  Depreciation and amortization 26,978 24,436
  Lease and rental expense 12,279 11,405
  Interest expense, net 6,482 6,307
  468,406 421,490
Income before minority interests and income taxes 51,689 41,627
Minority interests in earnings of consolidated entities 3,994 1,748
Income before income taxes 47,695 39,879
Provision for income taxes 17,673 14,229
Net income $30,022 $25,650
Earnings per share - basic $0.94 $0.79
Earnings per share - diluted $0.92 $0.77
Weighted average number of common shares - basic 32,007 32,516
Weighted average number of common share equivalents 681 794
Weighted average number of common shares and equivalents - diluted 32,688 33,310


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