HealthSouth hits target
Health care provider posts 19% gain in 4Q earnings; revenue up 8%
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March 6, 2001: 6:43 a.m. ET
NEW YORK (Reuters) - HealthSouth Corp., the nation's largest provider of outpatient surgery, diagnostic imaging and rehabilitation service, said Tuesday its fourth-quarter net income rose 26 percent, aided by its streamlined management structure.
Net income for the 2000 quarter was $76.9 million, compared with income before unusual and non-recurring expenses of $61.2 million a year earlier. Earnings per share were 19 cents for the quarter, matching Wall Street estimates, and up 19 percent from the prior year period.
For the quarter, HealthSouth's revenue was $1.08 billion, up nearly 8 percent from the year-earlier's $1.0 billion.
"In the fourth quarter, we continued to build stockholder value through the successful execution of our strategic plan," said Richard M. Scrushy, chairman and CEO of HealthSouth (HRC: Research, Estimates).
HealthSouth shares closed Monday at $14.67, down 92 cents. |
