Brief: Profit up for North Las Vegas hospital owner

Wednesday, Oct. 7, 1998 | 2:22 a.m.

Tenet owns Lake Mead Hospital in North Las Vegas.

Tenet said profit rose to $136.6 million, or 44 cents a diluted share, from $116.2 million, or 38 cents, a year earlier. Revenue rose 9.5 percent to $2.55 billion during the quarter ended Aug. 31, from $2.33 billion.

"They saw weakness in the spring, but this is a rebound from that," said Nancy Weaver, an analyst with Stephens Inc. "The same-hospital admission number is excellent."

Tenet was expected to have profit of 43 cents, based on the average estimate of analysts polled by First Call Corp.

Tenet's same-hospital admissions -- those at hospitals open more than a year -- rose 3.6 percent, and overall admissions increased 6.6 percent.

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