Tenet announces Q4 loss of $251 million

Tenet turned in a Q4 loss of $251 million, down from $2.19 billion a year ago. The company blames uncollected patient debt. Last year, Tenet moved its headquarters from Santa Barbara to Dallas and began a major belt-tightening campaign. Analyst opinion on the company remains sharply divided, with only a few experts predicting a good year. Credit Suisse First Boston is one of few bulls, rating the stock "outperform." Tenet has several outstanding problems, such as the official investigation into patient deaths at Memorial Medical Center in New Orleans and a federal probe into the company's billing practices. The company's shares are trading at $7.7, down from $50 a share two years ago.

- see this article from Business Week

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