Rural hospital operator LifePoint Hospitals (Nasdaq: LPNT) turned in a solid second quarter performance by doubling profits, growing revenues and posting lower patient debt.
The Brentwood, Tenn.-based company raised its full-year outlook after it said Friday that net income for the quarter ended June 30, 2008 increased 128.9 percent to $30.5 million, or 57 cents per diluted share. LifePoint reported net income of $13.4 million, or $0.23 per diluted share for the same period a year ago. Income from continuing operations increased 28 percent to $31.5 million, or $0.59 per diluted share, compared $24.6 million, or $0.43 per diluted share during the year ago period.
Revenues, meanwhile, were $681 million, up 4.1 percent from $654.3 million for the same period a year ago.
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