Dallas-based Tenet Healthcare (pdf) reported net income of $49 million in the fourth quarter of 2012 and $141 million for the entire 2012 fiscal year — both of which are large improvements from 2011.
Tenet's $49 million of net income in the fourth quarter contrasted starkly with a loss of $76 million in the fourth quarter of 2011. Tenet took a hit last year after it extinguished debt early to reduce future interest costs.
Net operating revenue in the fourth quarter of 2012 totaled $2.33 billion, a 7.3 percent increase from $2.17 billion in the same period a year ago.
Tenet's $141 million of profit in FY 2012 was 143 percent higher than the $58 million figure recorded in FY 2011. Net operating revenue jumped 5.4 percent from FY 2011 to FY 2012 to $9.12 billion. Tenet also posted an adjusted EBITDA of $1.2 billion in FY 2012, an increase from $1.13 billion in 2011.
Tenet's operating statistics in the fourth quarter and full-year 2012 were again dominated by surgeries and outpatient visits. Tenet's same-hospital total surgeries increased 7.5 percent in the fourth quarter and 5.2 percent on the year. Outpatient visits soared 7.3 percent in the fourth quarter and 5.4 percent in 2012. Tenet's adjusted admissions increased 2.2 percent year-over-year.
Tenet currently owns and operates 49 acute-care hospitals and recently signed a definitive agreement to acquire 209-bed Emanuel Medical Center in Turlock, Calif.
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