Tenet Healthcare beats profit estimates

Tuesday, Jan. 11, 2000 | 10:55 a.m.

Tenet Healthcare Corp., owner of Lake Mead Hospital in North Las Vegas, today reported earnings per share from operations of 43 cents for the second quarter of fiscal 2000 ended Nov. 30, up from 40 cents in the year-ago quarter.

The earnings beat the 41-cent average estimate of analysts surveyed by First Call.

The Santa Barbara, Calif., company said net operating revenues rose 8.5 percent to $2.78 billion while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4 percent to $469 million.

Net income from operations was $134 million, up 7.2 percent. After special items, net income was $135 million, or 43 cents per share, compared with $125 million, or 40 cents per share in the year-ago quarter.

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