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NAPLES -- Health Management Associates Inc. (symbol: HMA) saw third quarter revenues grow 12% to $1.4 billion, according to its latest earnings statement.
The Naples-based hospital management company posted $120.7 million in operating income in the third quarter, and $43.7 million in net income, after spending $50 million on interest payments and $22 million on taxes.
“We are pleased with the progress we are making in our emergency room operations, physician recruitment and market service development,” says CEO Gary Newsome in a company statement.
Revenue from continued operations, a key measure of HMA's operational efficiency, grew 4.7%, to $1.31 billion. Income from continuing operations grew 24%, to $49.7 million.
Shares of HMA's common stock are up nearly 20% over the past year, to a per-share price of nearly $9 at one point during Tuesday morning trading. But the company's value is down significantly from its 52-week high of $11.74, which it reached earlier this summer.
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