King of Prussia, Pa.-based Universal Health Services, an operator of acute-care and psychiatric hospitals, has announced its financial results for the three months ended Dec. 31, 2010, reporting net income attributable to UHS of $37.2 million, down 39 percent from $60.9 million in the same quarter a year prior.
Net revenues, however, increased 21 percent to $1.56 billion during the fourth quarter of 2010 as compared to $1.29 billion during the fourth quarter of 2009. The increase in net revenues were primarily due to the revenues generated at the behavioral healthcare facilities acquired from Psychiatric Solutions in Nov. 2010, according to UHS.
For the full year, UHS reported net income of $230.2 million, compared to $260.4 million during 2009. Net revenues for the year increased 7 percent to $5.57 billion during as compared to $5.20 billion during 2009.
Read the release on UHS' financial results.
Read more coverage on Universal Health Services:
- UHS' Southwest Healthcare Gains Approval for New Hospital in California
- UHS CFO Says Acute-Care Performance 'Muted'
Net revenues, however, increased 21 percent to $1.56 billion during the fourth quarter of 2010 as compared to $1.29 billion during the fourth quarter of 2009. The increase in net revenues were primarily due to the revenues generated at the behavioral healthcare facilities acquired from Psychiatric Solutions in Nov. 2010, according to UHS.
For the full year, UHS reported net income of $230.2 million, compared to $260.4 million during 2009. Net revenues for the year increased 7 percent to $5.57 billion during as compared to $5.20 billion during 2009.
Read the release on UHS' financial results.
Read more coverage on Universal Health Services:
- UHS' Southwest Healthcare Gains Approval for New Hospital in California
- UHS CFO Says Acute-Care Performance 'Muted'