Investor-owned IASIS Healthcare, based in Franklin, Tenn., reported net earnings attributable to IASIS of $31.4 million for fiscal year 2011, down nearly 53 percent from fiscal year 2010, according to an IASIS news release.
Net income attributable to IASIS for the fourth quarter ended Sept. 30, 2011, was $3.05 million, down almost 69 percent from the fourth quarter in 2010.
Despite the lower earnings figures from 2010, which included a $23.1 million loss on extinguishment of debt associated with refinancing, IASIS President and CEO Carl Whitmer said, "We are pleased that our fourth quarter results demonstrate solid year-over-year growth and view our performance as further confirmation that our commitment to operational excellence combined with key strategic initiatives is generating positive outcomes."
Net revenue was up for IASIS in both the fourth quarter and entire year. In the quarter ended Sept. 30, 2011, total net revenue hit $716.8 million, up 13.8 percent from the fourth quarter in 2010. Total net revenue for FY 2011 was $2.8 billion, an increase of 10.5 percent from last year.
Same-facility hospital admissions were up 0.6 percent in the fourth quarter of 2011, but they were down 1 percent on the year.
Net income attributable to IASIS for the fourth quarter ended Sept. 30, 2011, was $3.05 million, down almost 69 percent from the fourth quarter in 2010.
Despite the lower earnings figures from 2010, which included a $23.1 million loss on extinguishment of debt associated with refinancing, IASIS President and CEO Carl Whitmer said, "We are pleased that our fourth quarter results demonstrate solid year-over-year growth and view our performance as further confirmation that our commitment to operational excellence combined with key strategic initiatives is generating positive outcomes."
Net revenue was up for IASIS in both the fourth quarter and entire year. In the quarter ended Sept. 30, 2011, total net revenue hit $716.8 million, up 13.8 percent from the fourth quarter in 2010. Total net revenue for FY 2011 was $2.8 billion, an increase of 10.5 percent from last year.
Same-facility hospital admissions were up 0.6 percent in the fourth quarter of 2011, but they were down 1 percent on the year.
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