Consolidated net revenues were $152.4 million compared with $153.7 million in the prior year period. The operating income margin for the third quarter of 2009 increased 600 basis points to 36.3 percent from 30.3 percent in the prior year period. According to the release, this increase was driven by strong same-facility revenue growth and an increase in margins, which was a result of an increase in volume at recently developed or expanded facilities along with improved expense management.
Same-facility margins in the U.S. increased 160 basis points, and consolidated margins benefited by the continued growth in equity in earnings of unconsolidated affiliates, which grew 31 percent in the third quarter, according to the release.
For the nine months ended Sept. 30, 2009, consolidated net revenues were $465.9 million compared with $482.0 million in the prior year nine-month period. Operating income for the first nine months of 2009 increased 16 percent to $169.1 million as compared with $145.5 million for the same period of 2008, according to the release. Operating income margin for the nine months increased 610 basis points to 36.3 percent from 30.2 percent in the prior year nine-month period.
For the quarter ended Sept. 30, 2009, system-wide net revenues increased 11 percent to $434.1 million from $392.7 million in the prior year period. This increase was primarily a result of a 7 percent increase in U.S. same-facility net revenue, according to the release. System-wide operating income for the third quarter of 2009 increased 20 percent to $112.8 million from $93.7 million, and operating income margins were up 210 basis points to 26.0 percent from 23.9 percent in the prior year period.
For the nine months ended Sept. 30, 2009, system-wide net revenues increased 9 percent to $1.3 billion from $1.2 billion in the prior year nine-month period. This increase was primarily a result of an 8 percent increase in U.S. same-facility net revenue, according to the release. System-wide operating income for the nine months increased 21 percent to $341.2 million from $282.0 million, and operating income margins were up 260 basis points to 26.6 percent from 24.0 percent in the prior year nine-month period.
So far in 2009, USPI has added seven facilities and completed the sale of its interests in four facilities, and it expects to add 10-15 facilities in 2009 by a combination of de novo facilities and acquisitions. Currently, eight facilities are in development, of which one is under construction. In addition to the four divestitures, the Company deconsolidated the financial results of three facilities, according to the release.
William H. Wilcox, USPI’s CEO, said in the release, “We are generally pleased with our results of operations for the quarter, though somewhat disappointed in our same-facility volume growth. From a development perspective, while our pace this year is slow, compared with historical levels, we are quite optimistic about our acquisition and de novo opportunities.”
Read the release about USPI’s third quarter results.
