Universal Health Services, Inc. Consolidated Statements of Income June 2003 (in thousands, except per share amounts) (unaudited)
| |
Three months ended June 30 |
Six months ended June 30 |
| 2003 |
2002 |
2003 |
2002 |
| Net revenues |
$902,954 |
$805,945 |
$1,797,762 |
$1,610,316 |
| Operating charges: |
|
|
|
|
| Salaries, wages and benefits |
357,448 |
321,595 |
713,230 |
641,302 |
| Other operating expenses |
211,616 |
198,296 |
415,526 |
390,192 |
| Supplies expense |
121,556 |
103,857 |
242,293 |
207,365 |
| Provision for doubtful accounts |
61,702 |
52,845 |
127,122 |
110,739 |
| Depreciation and amortization |
35,513 |
30,900 |
70,050 |
60,308 |
| Lease and rental expense |
15,861 |
15,290 |
31,682 |
30,480 |
| Interest expense, net |
9,375 |
8,402 |
19,224 |
17,132 |
| |
813,071 |
731,185 |
1,619,127 |
1,457,518 |
| Income before minority interests and income taxes |
89,883 |
74,760 |
178,635 |
152,798 |
| Minority interests in earnings of consolidated entities |
8,530 |
4,688 |
13,560 |
10,561 |
| Income before income taxes |
81,353 |
70,072 |
165,075 |
142,237 |
| Provision for income taxes |
30,403 |
25,725 |
61,335 |
52,217 |
| Net income |
$50,950 |
$44,347 |
$103,740 |
$90,020 |
| Earnings per common share - basic |
$0.88 |
$0.74 |
$1.79 |
$1.50 |
| Earnings per common share - diluted |
$0.82 |
$0.69 |
$1.66 |
$1.40 |
| Weighted average number of common shares - basic |
57,655 |
59,934 |
57,966 |
59,898 |
| Weighted average number of common share equivalents |
7,287 |
7,320 |
7,303 |
7,253 |
| Weighted average number of common shares and equiv. - diluted |
64,942 |
67,254 |
65,269 |
67,151 |
| |
| EARNINGS PER SHARE CALCULATION |
| Net income |
$50,950 |
$44,347 |
$103,740 |
$90,020 |
| Add: Debenture interest, net of taxes |
2,178 |
2,091 |
4,355 |
4,183 |
| Adjusted net income |
$53,128 |
$46,438 |
$108,095 |
$94,203 |
| Weighted average number of common shares - basic |
57,655 |
59,934 |
57,966 |
59,898 |
| Add: Shares for conversion of convertible debentures |
6,577 |
6,577 |
6,577 |
6,577 |
| Other share equivalents |
710 |
743 |
726 |
676 |
| Weighted average number of common shares and equiv. - diluted |
64,942 |
67,254 |
65,269 |
67,151 |
| Earnings per common share - diluted |
$0.82 |
$0.69 |
$1.66 |
$1.40 |
|