UPDATE 1-Community Health Systems profit rises

Thu Jul 30, 2009 5:26pm EDT

* $0.66 EPS from continuing ops, vs $0.60 analyst view

* Revs $3.02 bln, $120 mln above expectations

* Shares unchanged in after-hours trading

NEW YORK, July 30 (Reuters) - U.S. hospital operator Community Health Systems Inc (CYH.N) said its second-quarter earnings jumped sharply, beating forecasts, helped by cost controls and increased admissions due to acquisitions.

The company on Thursday reported net income of $59.4 million, or 65 cents per share, compared with $47.9 million, or 50 cents per share, in the year-earlier period.

Community Health said income from continuing operations was 66 cents per share. Analysts on average expected 60 cents per share, according to Reuters Estimates.

Community Health, the largest publicly traded hospital company in the United States, said its revenue rose 13 percent to $3.02 billion. That is about $120 million above the Reuters Estimates forecast.

Company shares were unchanged in after-hours activity, from their closing price of $29.98 on the New York Stock Exchange.

The company said it expects full-year earnings per share from continuing operations of $2.50 to $2.65 per share, in line with its earlier forecast.

It projected full-year operating revenue of $11.8 billion to $12 billion, somewhat higher than the Reuters Estimates forecast of $11.77 billion. (Reporting by Ransdell Pierson; Editing by Tim Dobbyn)

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