Naples-based hospital operator Health Management Associates Inc. reported higher profits and revenues for the four quarter.
Excluding certain write-offs, restructuring charges and other costs, the company announced earnings of 26 cents a share from its continuing operations for the quarter — up more than 62 percent from 16 cents a year ago.
Without adjustments, earnings were lower than last year – at 13 cents a share.
HMA plans a conference call Tuesday to discuss its financial results in more detail. HMA operates hospitals throughout the U.S., including Physicians Regional-Pine Ridge and Physicians Regional-Collier Boulevard in Collier County.
The company reported profits of about $30.8 million in the fourth quarter, up from nearly $28.2 million a year ago. Net revenue grew 17.6 percent to $1.58 billion. Admissions increased 6.8 percent and net revenue at its same hospitals — or hospitals it has owned at least a year — increased 5.5 percent to $1.4 billion.
Same-hospital surgeries increased slightly. For the year, HMA reported net revenue of $5.8 billion. Net income was $178.7 million, or 71 cents a share from its same hospitals, up more than 9 percent from 65 cents in 2010.