BRENTWOOD (AP) - LifePoint Hospitals Inc. reported flat second-quarter earnings, as an increase in salaries and benefits along with other operating expenses, countered revenue growth for the rural hospital chain.
The Brentwood, Tenn., company said Friday that its net income was $40.3 million, or 83 cents per share, in the three months ended June 30. That was the same overall figure as a year ago but earnings per share came to 77 cents per share because the company had more shares outstanding.
Revenue climbed 11 percent to $827.3 million from $747.1 million a year ago.
Analysts surveyed by FactSet expected, on average, earnings of 80 cents per share on $859 million in revenue.
The company said the cost of salaries and benefits climbed 9 percent to $369.9 million, and supplies and other operating expenses rose a combined 15 percent to $320 million in the latest quarter.
LifePoint runs 56 hospitals in 18 states and is the lon e community hospital provider in most of its communities.
Its shares fell 73 cents, or $1.90 per share, to $37.75 in morning trading. Its shares have fallen 11 percent since peaking for the year at $42.19 in mid-February.