8-K 1 g91491e8vk.htm AMSURG CORP. Amsurg Corp.
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UNITED STATES
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 (Date of earliest event reported): October 28, 2004

AMSURG CORP.

(Exact Name of Registrant as Specified in Charter)
         
Tennessee   000-22217   62-1493316
(State or Other Jurisdiction of   (Commission   (I.R.S. Employer
Incorporation)   File Number)   Identification No.)
     
20 Burton Hills Boulevard    
Nashville, Tennessee   37215
(Address of Principal Executive Offices)   (Zip Code)

(615) 665-1283
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


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Item 7.01. Regulation FD Disclosure
SIGNATURES


Table of Contents

Item 7.01. Regulation FD Disclosure

     On October 26, 2004, the Company issued a press release announcing its earnings for the third quarter of 2004 and held a conference call to discuss the release. During the call, additional information about the first and second quarters of 2004 was requested in connection with the disposal of a surgery center on August 1, 2004, which was presented as part of discontinued operations in the Company’s results of operations for the three and nine months ended September 30, 2004. In response to such request, the Company is providing the following statement of earnings data, presenting the center’s results of operations as discontinued operations in the three months ended March 31, 2004 and June 30, 2004 and six months ended June 30, 2004. Procedures performed by centers in continuing operations were 146,669 and 154,531 in the three months ended March 31, 2004 and June 30, 2004, respectively.

Statements of Earnings Data (in thousands, except per share amounts):

                         
    Three Months Ended
   
                    Six Months Ended
    March 31, 2004
  June 30, 2004
  June 30, 2004
Revenues
  $ 79,746     $ 84,339     $ 164,085  
Operating expenses:
                       
Salaries and benefits
    21,662       22,316       43,978  
Supply cost
    8,990       9,560       18,550  
Other operating expenses
    15,689       16,964       32,653  
Loss on long-term note receivable
          1,100       1,100  
Depreciation and amortization
    3,211       3,309       6,520  
 
   
 
     
 
     
 
 
Total operating expenses
    49,552       53,249       102,801  
 
   
 
     
 
     
 
 
Operating income
    30,194       31,090       61,284  
Minority interest
    16,651       17,568       34,219  
Interest expense, net of interest income
    427       505       932  
 
   
 
     
 
     
 
 
Earnings from continuing operations before income taxes
    13,116       13,017       26,133  
Income tax expense
    5,246       5,207       10,453  
 
   
 
     
 
     
 
 
Net earnings from continuing operations
    7,870       7,810       15,680  
Discontinued operations:
                       
Earnings from operations of discontinued interests in surgery centers, net of income taxes.
    509       424       933  
Gain on sale of discontinued interests in surgery centers, net of income taxes
    1,241             1,241  
 
   
 
     
 
     
 
 
Earnings from discontinued operations
    1,750       424       2,174  
 
   
 
     
 
     
 
 
Net earnings
  $ 9,620     $ 8,234     $ 17,854  
 
   
 
     
 
     
 
 
Basic earnings per common share:
                       
Net earnings from continuing operations
  $ 0.26     $ 0.26     $ 0.52  
Net earnings
  $ 0.32     $ 0.27     $ 0.59  
Diluted earnings per common share:
                       
Net earnings from continuing operations
  $ 0.26     $ 0.25     $ 0.51  
Net earnings
  $ 0.31     $ 0.27     $ 0.58  
Weighted average number of shares and share equivalents outstanding:
                       
Basic
    30,158       30,238       30,198  
Diluted
    30,832       30,862       30,847  

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SIGNATURES

     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.
         
  AMSURG CORP.
 
 
  By:   /s/ Claire M. Gulmi    
    Claire M. Gulmi   
 
Date: October 28, 2004    Senior Vice President and Chief Financial Officer (Principal Financial and Duly Authorized Officer)   
 

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