LifePoint Health, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2016. For the fourth quarter ended December 31, 2016, consolidated revenues were $1,605.2 million, up 17.1% from $1,370.7 million for the same period last year, primarily as a result of the company's recent acquisitions. Net income for the fourth quarter ended December 31, 2016, was $46.6 million, down $8.8 million, or 16.1%, compared with net income of $55.4 million for the same period last year. Net income for the fourth quarter ended December 31, 2016, includes accelerated depreciation expense of $1.5 million, or $0.9 million net of income taxes, for the existing Marquette General Hospital because of the Company's commitment to construct a new replacement hospital. Net income for the fourth quarter ended December 31, 2015, includes a bargain purchase gain of $4.0 million, or $2.5 million net of income taxes, related to the final valuation of an acquired hospital. Diluted earnings per share attributable to the company's stockholders for the fourth quarter ended December 31, 2016, decreased to $1.07 compared with $1.16 for the same period last year. Diluted earnings per share attributable to the company's stockholders for the fourth quarter ended December 31, 2016, were negatively impacted by $0.02 per share as a result of Marquette General Hospital accelerated depreciation expense. Diluted earnings per share attributable to the company's stockholders for the fourth quarter ended December 31, 2015, were benefited by $0.05 per share as a result of the aforementioned bargain purchase gain related to the final valuation of an acquired hospital. When adjusted to exclude these two items, adjusted diluted earnings per share attributable to the company's stockholders for the fourth quarter of 2016 decreased slightly to $1.09 compared with $1.11 for the same period last year, primarily as a result of an anticipated decrease in electronic health record incentive income and higher depreciation and interest expense associated with the company's recent acquisitions. Adjusted EBITDA for the fourth quarter ended December 31, 2016, increased by 6.8% to $196.8 million compared with Adjusted EBITDA of $184.2 million for the same period last year. Income before income taxes was $72.9 million against $86.6 million for the same period of last year. Net income attributable to the company's stockholders was $43.9 million against $53.0 million for the same period of last year. Net cash provided by operating activities was $102.5 million against $84.8 million for the same period of last year. The operating cash flows were positively impacted by the amount and timing of payments for income taxes, accrued salaries and accounts payable. These improvements were partially offset by an increase in the amount and timing of payments for interest as well as anticipated delays in billing procedures as a result of implementation of a new clinical IT system at Conemaugh Health System in Pennsylvania. Purchases of property and equipment was $173.2 million against $121.3 million for the same period of last year.

For the year ended December 31, 2016, consolidated revenues were $6,364.0 million, up 22.0% from $5,214.3 million for the prior year, primarily as a result of the company's recent acquisitions. Net income for the year ended December 31, 2016, was $131.8 million, down $61.2 million, or 31.8%, compared with net income of $193.0 million for the prior year. Net income for the year ended December 31, 2016, includes charges of $24.7 million, or $15.5 million net of income taxes, related to cardiology-related lawsuits, $22.0 million, or $13.7 million net of income taxes, for debt transaction costs, $6.2 million, or $3.9 million net of income taxes, for Marquette Net income for the year ended December 31, 2015, includes a bargain purchase gain of $4.0 million, or $2.5 million net of income taxes, and impairment charges of $13.8 million, or $8.9 million net of income taxes. Diluted earnings per share attributable to the company's stockholders for the year ended December 31, 2016, decreased to $2.82 compared with $3.95 for the prior year. Diluted earnings per share attributable to the company's stockholders for the year ended December 31, 2016, were negatively impacted by a total of $0.79 per share as a result of a combination of cardiology-related lawsuits, debt transaction costs, Marquette General Hospital accelerated depreciation expense, and an impairment charge. Similarly, diluted earnings per share attributable to the company's stockholders for the year ended December 31, 2015, were negatively impacted by a total of $0.14 per share as a result of impairment charges, partially offset by a bargain purchase gain. When adjusted to exclude these various items, adjusted diluted earnings per share attributable to the company's stockholders for 2016 decreased to $3.61 compared with $4.09 for the prior year, primarily as a result of an anticipated decrease in electronic health record incentive income and higher depreciation and interest expense associated with the company's recent acquisitions. Adjusted Normalized EBITDA for the year ended December 31, 2016, increased 5.8% to $746.5 million compared with Adjusted Normalized EBITDA of $705.7 million for the prior year. Adjusted Normalized EBITDA for the year ended December 31, 2016, has been adjusted to exclude the impact of $24.7 million in charges related to cardiology-related lawsuits recognized during the first quarter of 2016. Income before income taxes was $204.8 million against $302.5 million for the same period of last year. Net income attributable to the company's stockholders was $121.9 million against $181.9 million for the same period of last year. Net cash provided by operating activities was $435.2 million against $627.1 million for the same period of last year. Purchases of property and equipment was $399.5 million against $274.7 million for the same period of last year.

The company also provided financial guidance for 2017. For the year, the company expects, net revenue to be in the range of $6.5 - $6.6 billion; Adjusted EBITDA to be in the range of $785 - $815 million; and Diluted EPS to be in the range of $4.05 - $4.34. Guidance for 2017 excludes, if applicable, the estimated impact of future acquisitions, as well as the impact of items that are non-operational in nature, including items such as, but not limited to, gains or losses on early debt retirement, impairments of long-lived assets and share repurchases.