One company with a midstate presence and another soon to purchase an area hospital this week reported fourth-quarter and 2011 earnings.
Tennessee-based Community Health Systems Inc., which Jan. 24 announced plans to acquire York County's Memorial Health Systems Corp., on Tuesday reported net income of $53 million for the quarter that ended Dec. 31. In the fourth quarter of 2010, the company reported $92 million in net income.
Earnings per diluted share for the fourth quarter of last year were 35 cents, compared with 76 cents for the same quarter in 2010.
Analysts' estimates were 83 cents per diluted share, according to Yahoo Finance.
For 2011, Community Health reported net income of $277.6 million, compared with $348 million in 2010. Diluted earnings per share were $2.23, compared with $3.01 per diluted share in 2010, according to the company. Income decreased as a result of early removal of debt, and losses from three hospitals and a physician clinic sold in 2011, the company said.
Analysts' estimates for the annual earnings per share were unavailable.
Shares of Community Health Systems Inc. are traded on the New York Stock Exchange under the ticker symbol CYH.
Arkansas-based Windstream Corp., which purchased former Ephrata-based D&E Communications in 2009, today reported a net loss of $31.9 million for the quarter ending Dec. 31. The loss is a 156 percent decrease compared with its net income of $57 million for the same quarter in 2010.
Earnings per diluted share were 6 cents, compared with 10 cents in the fourth quarter of last year.
Analysts expected earnings of 20 cents per diluted share, according to Yahoo Finance.
Changes in the company's pension accounting method, merger and integration expenses and early removal of debt contributed to its loss, the company said.
Windstream reported a net income of $172 million for 2011, compared with $312.7 million for 2010, a 45 percent decrease. The earnings per diluted share for 2011 were 33 cents, compared with 66 cents in 2010.
Analysts had estimated 76 cents per diluted share for 2011, according to Yahoo Finance.
Windstream in late December sold two properties in West Earl Township, Lancaster County, at 4139 Oregon Pike and 13 Industrial Road, spokesman Scott Morris said. The land, including an 80,000-square-foot office building, was sold to 4139 Oregon Pike LP, according to county records. A mortgage for $9.1 million was recorded by the county.
Windstream in December closed its $2.3 billion acquisition of New York-based Paetec Holding Corp.
Windstream trades its stock on the Nasdaq under the ticker symbol WIN.