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LifePoint Health, Inc (LPNT) has reported 17.17 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $43.90 million, or $1.07 a share in the quarter, compared with $53 million, or $1.16 a share for the same period last year. On an adjusted basis, earnings per share were at $1.09 for the quarter compared with $1.11 in the same period last year. Revenue during the quarter grew 17.11 percent to $1,605.20 million from $1,370.70 million in the previous year period. Gross margin for the quarter contracted 109 basis points over the previous year period to 82.97 percent. Total expenses were 93.19 percent of quarterly revenues, up from 91.52 percent for the same period last year. That has resulted in a contraction of 168 basis points in operating margin to 6.81 percent.
However, the adjusted EBITDA for the quarter stood at $196.80 million compared with $184.20 million in the prior year period. At the same time, adjusted EBITDA margin contracted 118 basis points in the quarter to 12.26 percent from 13.44 percent in the last year period.
Commenting on the results, William F. Carpenter III, Chairman and Chief Executive Officer of LifePoint Health, said, “We are pleased with our fourth quarter results that contributed to a solid second half of 2016 in which we saw sequential volume improvement and margin expansion. We are well-positioned going into 2017 as our pipeline for acquisitions remains strong, and we believe the current environment may create even more opportunity as change occurs. We remain committed to focusing on quality and patient safety, as we execute on our strategic priorities and prudently allocate capital to drive value for our shareholders.”
LifePoint Health, Inc expects revenue to be in the range of $6,500 million to $6,600 million for financial year 2017. For fiscal year 2017, Lifepoint Hospitals forecasts net income to be in the range of $168.30 million to $180.40 million. For financial year 2017, the company projects diluted earnings per share to be in the range of $4.05 to $4.34.
Operating cash flow drops significantly
LifePoint Health, Inc has generated cash of $435.20 million from operating activities during the year, down 30.60 percent or $191.90 million, when compared with the last year. The company has spent $520.70 million cash to meet investing activities during the year as against cash outgo of $876.30 million in the last year.
The company has spent $102.40 million cash to carry out financing activities during the year as against cash inflow of $341.70 million in the last year period.
Cash and cash equivalents stood at $96.10 million as on Dec. 31, 2016, down 66.16 percent or $187.90 million from $284 million on Dec. 31, 2015.
Debt moves up
LifePoint Health, Inc has witnessed an increase in total debt over the last one year. It stood at $2,914.30 million as on Dec. 31, 2016, up 9.20 percent or $245.50 million from $2,668.80 million on Dec. 31, 2015. Interest coverage ratio deteriorated to 3 for the quarter from 3.92 for the same period last year.
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