Q4 2010 Earnings Call Transcript

Transcript Call Date 02/17/2011

Operator: Good afternoon. My name is Judy, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Health Management Fourth Quarter and 2010 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions). Thank you.

At this time, I'd like to turn the call over to Vice President of Financial Relations, Mr. John Merriwether. You may begin your conference.

John C. Merriwether - VP, Financial Relations: Thank you, Judy, and good morning, everyone. I'd like to welcome you to Health Management's fourth quarter and year end 2010 earnings conference call.

Before we get started with the call, I'd like to read our disclosure statement. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties, and assumptions, and are identified by words such as, 'expects,' 'estimates,' 'projects,' 'anticipates,' 'believes,' 'could,' 'prospects,' 'promising,' and other similar words. All statements addressing operating performance, events or developments that Health Management expects or anticipates will occur in the future, including but not limited to projections of revenue, income or loss, capital expenditures, earnings per share, debt structure, bad debt expense, capital structure, repayment of indebtedness, other financial items, statements regarding the plans and objectives of management for future operations, statements regarding acquisitions, divestitures and other proposed or contemplated transactions, statements of future economic performance, statements of the assumptions underlying or relating to any of the foregoing statements, and other statements which are other than statements of historical fact, are considered to be forward-looking statements.

Statements made throughout this presentation are based on current estimates of future events, and the Company has no obligation to update or correct these estimates. Listeners are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially as a result of these various factors.

In addition, adjusted EBITDA as mentioned on this call is defined as consolidated net income before discontinued operations, net gains/losses on sales of assets, net interest and other income, interest expense, net gains and losses on early extinguishment of debt, write-offs of deferred financing costs, incomes taxes, and depreciation and amortization.

On the call with me this morning are President and Chief Executive Officer, Gary Newsome; Chief Financial Officer, Kelly Curry; and Senior Vice President of Finance, Bob Farnham. Thank you for your attention.

Now I'll turn the call over to Gary.

Gary D. Newsome - President and CEO: Thanks, John, and good morning everyone. Thank you for joining us to discuss our strong results for the fourth quarter and year ended December 31, 2010. It was another great innings to a fine year and we are very excited about the prospects that lie ahead of us for 2011.

Read our Earnings Call Transcript disclaimer.
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