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

  Three months ended September 30, Nine months ended
September 30,
1999 1998 1999 1998
Net revenues $489,828 $456,090 $1,522,990 $1,393,765
Operating charges:
Operating expenses 201,709 192,055 609,559 568,131
Salaries and wages 181,674 165,547 542,815 492,393
Provision for doubtful accounts 44,926 31,116 125,997 101,372
Depreciation and amortization 26,695 27,160 80,870 77,868
Lease and rental expense 12,219 11,232 36,771 34,809
Interest expense, net 6,503 7,139 19,551 20,529
  473,726 434,249 1,415,563 1,295,102
Income before minority interests and income taxes 16,102 21,841 107,427 98,663
Minority interests in earnings (losses) of consolidated entities (579) 1,413 6,172 6,687
Income before income taxes 16,681 20,428 101,255 91,976
Provision for income taxes 5,887 7,035 37,409 32,472
Net income $10,794 $13,393 $63,846 $59,504
Earnings per common share - basic $0.34 $0.41 $2.01 $1.83
Earnings per common share - diluted $0.34 $0.40 $1.97 $1.78
Weighted average number of common shares - basic 31,425 32,643 31,697 32,595
Weighted average number of common share equivalents 626 690 670 786
Weighted average number of common shares and equiv. - diluted 32,051 33,333 32,367 33,381


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