KING OF PRUSSIA, Pa., March 1 /PRNewswire-FirstCall/ -- Universal Health
Services, Inc. (NYSE: UHS) announced today that its earnings per diluted share
for the three-month period ending March 31, 2004, could be as much as 25%
lower than the $.84 per diluted share recorded in the same period in the prior
year. On a same facility basis, the Company's acute care hospitals have
continued, in the first two months of 2004, to experience a decline in
inpatient admissions. Moreover, during this period, certain of the Company's
acute care facilities have been impacted by a negative shift in payor mix, a
decline in intensity and an increase in length of stay. In addition, the
rising level of uninsured and self-pay patients continues to unfavorably
impact our bad debt expense. The Company is vigorously addressing each of
these areas.
We will hold a conference call for investors and analysts today at 10:30AM
Eastern Time. The dial-in number is 1-877-648-7971. A digital recording of
the conference call will be available two hours after the completion of the
conference call and will continue through midnight on March 8, 2004. To
access the recording, call 1-800-642-1687 and enter the conference ID number
5898400.
In addition, Alan B. Miller, Chairman and Chief Executive Officer, will
give a presentation on the Company followed by a question and answer session
on Tuesday, March 2, 2004 at 9:50AM ET at the Raymond James Institutional
Investors Conference in Orlando, Florida and at 11:15AM ET on Wednesday,
March 3, 2004 at the Lehman Brothers Healthcare Conference in Miami, Florida.
A webcast of today's conference call and both investor conference
presentations will be available on the Company's website, http://www.uhsinc.com.
Universal Health Services, Inc. is one of the nation's largest hospital
companies, operating acute care and behavioral health hospitals, ambulatory
and radiation centers nationwide, in Puerto Rico and in France. It acts as
the advisor to Universal Health Realty Income Trust, a real estate investment
trust (NYSE: UHT).
Certain statements in this release may constitute forward-looking
statements that are subject to various risks and uncertainties as discussed in
the Company's filings with the Securities and Exchange Commission. The
Company is not obligated to update these forward-looking statements even if
the Company's assessment of these risks and uncertainties changes.
For additional information on the Company, visit our web site:
http://www.uhsinc.com.
SOURCE Universal Health Services, Inc.
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Related links:
http://www.uhsinc.com
Company News On-Call:
http://www.prnewswire.com/comp/916225.html
CONTACT:
Steve Filton, Chief Financial Officer,
Universal Health Services, Inc., +1-610-768-3300
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