-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, EpJJpC/a4G0SI7J65WHVO4md5JiHvlmxMuV5vvx200uzK4Ts3m1vGToyU9Q5pHu7 /Bq1yC3SIMkeWuG5+NOvdw== 0000860730-94-000017.txt : 19940802 0000860730-94-000017.hdr.sgml : 19940802 ACCESSION NUMBER: 0000860730-94-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940728 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19940728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLUMBIA HCA HEALTHCARE CORP/ CENTRAL INDEX KEY: 0000860730 STANDARD INDUSTRIAL CLASSIFICATION: 8062 IRS NUMBER: 752497104 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11239 FILM NUMBER: 94540626 BUSINESS ADDRESS: STREET 1: 201 WEST MAIN STREET CITY: LOUISVILLE STATE: KY ZIP: 40202- BUSINESS PHONE: (502)-572-2000 FORMER COMPANY: FORMER CONFORMED NAME: COLUMBIA HEALTHCARE CORP DATE OF NAME CHANGE: 19930830 FORMER COMPANY: FORMER CONFORMED NAME: COLUMBIA HOSPITAL CORP DATE OF NAME CHANGE: 19930328 8-K 1 2ND QUARTER OPERATING RESULTS SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report July 28, 1994 (Date of Earliest Event Reported) COLUMBIA/HCA HEALTHCARE CORPORATION (Exact name of registrant as specified in its charter) DELAWARE (State of Incorporation) 001-11239 75-2497104 (Commission (I.R.S. Employer File Number) Identification No.) 201 West Main Street, Louisville, Kentucky 40202 (Address of principal executive offices) (Zip Code) (502)572-2000 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS. On July 28, 1994 Columbia/HCA Healthcare Corporation ( the "Company ") announced its operating results for the second quarter ended June 30, 1994. A copy of the press release issued by the Company on June 28, 1994 is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. Exhibit 20. Copy of the Company's press release dated July 28, 1994, and related financial information. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. COLUMBIA/HCA HEALTHCARE CORPORATION Richard A. Lechleiter Vice President and Controller DATED: July 28, 1994 EX-20 2 EXHIBIT 20 Investor Contacts: MEDIA CONTACT: Victor L. Campbell Lee A. Wood Lindy B. Richardson 502/572-2173 or 502/572-2115 502/572-2153 615/320-205 COLUMBIA/HCA RECORDS SECOND QUARTER EARNINGS PER SHARE GROWTH OF 22% WITH EPS FROM CONTINUING OPERATIONS REPORTED AT $0.60 Same-Hospital Operating Statistics Up From Prior Year Louisville, KY, July 28, 1994 -- Columbia/HCA Healthcare Corporation (NYSE:COL) today announced operating results for the second quarter ended June 30, 1994. Results for the quarter exceeded expectations due to growth in same-hospital utilization and financial performance, the impact of recent debt refinancings, and the realization of anticipated merger synergies. Columbia/HCA's earnings per share from continuing operations increased 22% to $.60 for the second quarter ended June 30, 1994, compared to earnings per share of $0.49 for the second quarter of 1993. Net revenues for the second quarter of 1994 totaled $2.7 billion, up 6% from $2.5 billion in the second quarter of 1993. Operating income in the second quarter rose 10% to $543 million, up from $496 million last year. Columbia/HCA's same-hospital admissions increase 1.1% during the second quarter of 1994, continuing the trend seen in the first quarter. Same-hospital outpatient visits rose 22% over the second quarter of 1993, primarily as a result of expanding home health and other ancillary outpatient services. "Columbia/HCA's earnings growth in the second quarter reflects a combination of operating improvements and the realization of anticipated merger synergies," said David T. Vandewater, Chief Operating Officer of Columbia/HCA. "Our focus on labor and supply costs improved our operating margin this quarter to 20.2% compared to 19.5% in the second quarter of 1993." "The debt refinancings accomplished in late 1993 and thus far in 1994 have significantly reduced interest expense," said David C. Colby, Columbia/HCA's Chief Financial Officer. "In addition, Columbia/HCA has continued to generate strong cash flow as evidenced by the fact that the ratio of debt to total capitalization improved from 51.6% at year end to 49.5% at June 30, 1994. In the first half of 1994, the Company has expended significant amounts related to its capital expenditure and acquisition programs while reducing debt by $42 million." Richard L. Scott, President and Chief Executive Officer of Columbia/HCA, added that "We continue to be successful as we create efficient, quality-focused healthcare delivery systems in our markets. The commitment of our local market management teams in custom designing provider networks for their communities is at the base of our success. The expected third quarter completion of the Medical Care America acquisition will continue to add needed surgical facilities to many of our markets, enabling Columbia/HCA to enhance local services." The following table highlights the consolidated operating results of Columbia/HCA for the second quarter and six months ended June 30, 1994 and 1993, and reflects non-recurring items and discontinued operations for the respective periods: Columbia/HCA Consolidated Operating Results (Dollars in Millions, Except Per Share Amounts)
Second Quarter Six Months 1994 1993 % Change 1994 1993 % Change Revenues .......................... $2,689 $2,536 6% $5,467 $5,190 5% Operating income (a)............... $543 $496 10% $1,146 $1,053 9% Net income: Continuing operations: Excluding non-recurring items... $205 $166 24% $444 $371 20% Non-recurring items (net of tax) - - (102) - Discontinued operations .......... - - - 16 Loss on extinguishment of debt ... - - (92) - Net income .................. $205 $166 $250 $387 Earnings per common share: Continuing operations: Excluding non-recurring items ... $0.60 $0.49 22% $1.30 $1.10 18% Non-recurring items ............. - - (0.30) - Discontinued operations .......... - - - 0.04 Loss on extinguishment of debt ... - - (0.27) - Net income .................. $0.60 $0.49 $0.73 $1.14 Shares used in earnings per share computations (000) ......... 342,103 338,544 341,862 338,165 (a)Income from continuing operations before non-recurring transactions, depreciation and amortization, interest expense, minority interests and income taxes.
Columbia/HCA Healthcare Corporation is the nation's largest healthcare services provider, with 196 acute-care and specialty hospitals in 26 states, England and Switzerland, employing approximately 130,000 people. Columbia/HCA recently announced plans to create innovative strategic partnerships with prominent healthcare providers, such as Crawford Long Hospital of Emory University in Atlanta and Southwest Texas Methodist Hospital in San Antonio, to enhance local delivery networks. With its comprehensive approach, Columbia/HCA meets the healthcare needs of its communities in a cost-effective, quality manner. -----END PRIVACY-ENHANCED MESSAGE-----