Universal Health Services, Inc. Consolidated Statements of Income June 2002 (in thousands, except per share amounts) (unaudited)
| |
Three months ended June 30 |
Six months ended June 30 |
| 2002 |
2001 |
2002 |
2001 |
| Net revenues |
$805,945 |
$718,596 |
$1,610,316 |
$1,395,545 |
| Operating charges: |
| Salaries, wages and benefits |
321,595 |
282,278 |
641,302 |
550,560 |
| Other operating expenses |
198,296 |
169,876 |
390,192 |
320,782 |
| Supplies expense |
103,857 |
92,979 |
207,365 |
182,347 |
| Provision for doubtful accounts |
52,845 |
62,678 |
110,739 |
117,905 |
| Depreciation and amortization |
30,900 |
32,248 |
60,308 |
62,043 |
| Lease and rental expense |
15,290 |
13,470 |
30,480 |
26,110 |
| Interest expense, net |
8,153 |
10,506 |
17,117 |
18,962 |
| |
730,936 |
664,035 |
1,457,503 |
1,278,709 |
| Income before minority interests, effect of foreign exchange and derivative transactions and income taxes |
75,009 |
54,561 |
152,813 |
116,836 |
| Minority interests in earnings of consolidated entities |
4,688 |
3,699 |
10,561 |
7,624 |
| Losses (gains) on foreign exchange and derivative transactions |
249 |
(26) |
15 |
1,401 |
| Income before income taxes |
70,072 |
50,888 |
142,237 |
107,811 |
| Provision for income taxes |
25,725 |
18,498 |
52,217 |
39,250 |
| Net income |
$44,347 |
$32,390 |
$90,020 |
$68,561 |
| Earnings per common share - basic |
$0.74 |
$0.54 |
$1.50 |
$1.15 |
| Earnings per common share - diluted |
$0.69 |
$0.51 |
$1.40 |
$1.08 |
| Weighted average number of common shares - basic |
59,934 |
59,918 |
59,898 |
59,873 |
| Weighted average number of common share equivalents |
7,320 |
7,306 |
7,253 |
7,313 |
| Weighted average number of common shares and equiv. - diluted |
67,254 |
67,224 |
67,151 |
67,186 |
| |
| EARNINGS PER SHARE CALCULATION |
| Net income |
$44,347 |
$32,390 |
$90,020 |
$68,561 |
| Add: Debenture interest, net of taxes |
2,091 |
2,049 |
4,183 |
4,019 |
| Adjusted net income |
$46,438 |
$34,439 |
$94,203 |
$72,580 |
| Weighted average number of common shares - basic |
59,934 |
59,918 |
59,898 |
59,873 |
| Add: Shares for conversion of convertible debentures |
6,578 |
6,578 |
6,578 |
6,578 |
| Other share equivalents |
742 |
728 |
675 |
735 |
| Weighted average number of common shares and equiv. - diluted |
67,254 |
67,224 |
67,151 |
67,186 |
| Earnings per common share - diluted |
$0.69 |
$0.51 |
$1.40 |
$1.08 |
|