Universal Health Services, Inc.
Consolidated Statements of Income
December 1997
(in thousands, except per share amounts)
(unaudited)

  Three months ended
December, 31
Twelve months ended
December, 31
  1997 1996 1997 1996
Net revenues $396,304 $325,569 $1,442,677 $1,174,158
Operating charges:
Operating expenses 161,882 127,986 575,088 458,063
Salaries and wages 146,033 117,126 514,407 420,525
Provision for doubtful accounts 28,597 21,511 108,790 80,820
Depreciation and amortization 21,788 21,227 80,686 71,941
Lease and rental expense 9,932 9,065 38,401 37,484
Interest expense, net 4,476 5,415 19,382 21,258
Nonrecurring charges 0 4,063 0 4,063
  372,708 306,393 1,336,754 1,094,154
Income before income taxes 23,596 19,176 105,923 80,004
Provision for income taxes 8,576 7,507 38,647 29,333
Net income $15,020 $11,669 $67,276 $50,671
Earnings per share - basic $0.46 $0.36 $2.08 $1.69
Earnings per share - diluted $0.45 $0.36 $2.03 $1.65
Average number of shares outstanding - basic 32,402 32,100 32,321 30,054
Stock equivalents 790 714 777 744
Average number of shares outstanding - diluted 33,192 32,814 33,098 30,798


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