UPDATE 1-Universal Health 2nd-quarter net income rises
(Adds earnings outlook, details)
CHICAGO, July 28 (Reuters) - Hospital operator Universal Health Services Inc (UHS.N) said on Monday quarterly net earnings rose on higher revenue from its health facilities, and boosted its outlook for full-year adjusted earnings.
Second-quarter net income increased to $54.2 million, or $1.07 a share, from $52.1 million, or 97 cents a share, a year ago.
Analysts, on average, expected net profit of 91 cents a share, according to Reuters Estimates.
Universal Health, based in King of Prussia, Pennsylvania, said net revenue was up 8 percent to $1.28 billion. Revenue from its acute-care hospitals rose 7.6 percent, and revenue from its psychiatric facilities gained 7.8 percent.
The company raised its forecast for 2008 earnings from continuing operations to $3.80 to $3.90 per share from $3.70 to $3.80 per share.
Analysts, on average, expected 2008 adjusted earnings of $3.79 a share, according to Reuters Estimates.
Shares of Universal Health closed up 94 cents, or 1.6 percent, at $60.05 on the New York Stock Exchange. (Reporting by Susan Kelly; editing by Jeffrey Benkoe)
