Health Management Associates (NYSE: HMA) saw a 2 percent bump in its net revenue for 2009, capping off the year with an expected $4.6 billion in revenue and earnings per share of between 49 cents and 50 cents. Last year, the company reported net revenue of about $4.5 billion.
"We exceeded our expectations in 2009 by remaining disciplined in our operational approach, and we are very pleased to report these preliminary results," Gary Newsome, president and CEO announced earlier this week.
The fourth quarter alone netted $1.2 billion in revenue, a 1.5 percent increase over HMA's prior-year fourth quarter, he said. He expects the growth to continue in 2010, and projects net revenue of about $5.1 billion.
Newsome also announced that Kelly E. Curry, has been appointed Executive Vice President and CFO. Curry had been serving as executive vice president and chief administrative officer. He had served as the company's CFO from 1987 to 1994.
Robert E. Farnham, who had been serving as CFO, will continue on as senior VP of finance and will function as the company's principal accounting officer, Newsome said.
One of the largest healthcare systems in the nation, HMA operates 54 non-urban acute care hospitals in 15 states, mostly in the Southeast and Southwest.
For more information
- read HCA's press release