Universal Health Services, Inc.
Consolidated Statements of Income
June 1998
(in thousands, except per share amounts)
(unaudited)

  Three months ended June 30 Six months ended June 30
  1998 1997 1998 1997
Net revenues $474,558 $343,826 $937,675 $683,996
Operating charges:
     Operating expenses 195,125 136,412 376,076 266,468
     Salaries and wages 165,721 119,138 326,846 238,885
     Provision for doubtful accounts 32,990 27,450 70,256 51,113
     Depreciation and amortization 26,272 19,815 50,708 38,843
     Lease and rental expense 12,172 9,307 23,577 18,428
     Interest expense 7,083 5,384 13,390 10,340
  439,363 317,506 860,853 624,077
Income before minority interests and income taxes 35,195 26,320 76,822 59,919
Minority interests in earnings of consolidated entities 3,526 (147) 5,274 (529)
Income before income taxes 31,669 26,467 71,548 60,448
Provision for income taxes 11,208 9,560 25,437 22,011
Net income $20,461 $16,907 $46,111 $38,437
Earnings per share - basic $0.63 $0.52 $1.42 $1.19
Earnings per share - diluted $0.61 $0.51 $1.38 $1.16
Average number of shares outstanding - basic 32,626 32,318 32,571 32,268
Stock equivalents 874 785 834 767
Average number of shares outstanding - diluted 33,500 33,103 33,405 33,035


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