UPDATE: Health Management Q4 Profit Rises 57%

Health Management Associates

reported a 57% rise in its fourth-quarter earnings. Health Management's quarterly profit surged to $48.3 million, or $0.19 share, from $30.8 million, or $0.13 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $0.12 per share. Its revenue rose 6.6% to $1.48 billion. The company earlier projected earnings of $0.12 to $0.13 per share on revenue of around $1.48 billion. Health Management shares fell 0.19% to close at $10.70 yesterday.