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

  Three months ended June 30 Six months ended
June 30
1999 1998 1999 1998
Net revenues $513,067 $474,558 $1,033,162 $937,675
Operating charges:
    Operating expenses 204,743 195,125 407,850 376,076
    Salaries and wages 182,507 165,721 361,141 326,846
    Provision for doubtful accounts 40,145 32,990 81,071 70,256
    Depreciation and amortization 27,197 26,272 54,175 50,708
    Lease and rental expense 12,273 12,172 24,552 23,577
    Interest expense, net 6,566 7,083 13,048 13,390
  473,431 439,363 941,837 860,853
Income before minority interests and income taxes 39,636 35,195 91,325 76,822
Minority interests in earnings of consolidated entities 2,757 3,526 6,751 5,274
Income before income taxes 36,879 31,669 84,574 71,548
Provision for income taxes 13,849 11,208 31,522 25,437
Net income $23,030 $20,461 $53,052 $46,111
Earnings per share - basic $0.73 $0.63 $1.67 $1.42
Earnings per share - diluted $0.71 $0.61 $1.63 $1.38
Weighted average number of common shares - basic 31,659 32,626 31,833 32,571
Weighted average number of common share equivalents 703 874 692 834
Weighted average number of common shares and equivalents - diluted 32,362 33,500 32,525 33,405


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