CHS reports $3.2 billion in revenue
Community Health Systems reported $3.2 billion in revenue, an increase of 9 percent, for the third quarter of 2012.
Community Health, based in Franklin, Tenn., is the corporate owner of ValleyCare Northside Medical Center in Youngstown, ValleyCare Trumbull Memorial Hospital in Warren and ValleyCare Hillside Rehabilitation Hospital in Howland.
Despite the increase in revenue, the company’s income decreased to $58.8 million for the third quarter compared with $95.8 million in revenue during the same quarter in 2011, according to the company’s quarterly report.
The decrease was the result of the company repaying debt early.
Operating results for the quarter reflect a 5 percent increase in total admissions and a 6.3 percent increase in total adjusted admissions over the third quarter of 2011.
Net income attributable to Community Health Systems for common stockholders was $2.27 per share through the end of September compared with $1.87 per share for the same period in 2011.
“Community Health Systems delivered another strong financial and operating performance in the third quarter of 2012,” said Wayne T. Smith, chairman, president and chief executive officer of Community Health. “We continue to demonstrate favorable results on a same-store basis with revenues up four percent and volume trends stabilizing. Our standardized business platform has enabled us to reduce costs, recruit qualified physicians and improve local hospital services.”