HCA Inc. reported consolidated earnings results for its third quarter and nine months ended September 30, 2009. The company reported revenues for the third quarter totaled $7.533 billion, compared to $7.002 billion in the third quarter of 2008. Net income attributable to company for the third quarter of 2009 totaled $196 million, compared to $86 million in the prior year's third quarter. Adjusted EBITDA in the quarter totaled $1.273 billion, compared to $1.053 billion in the previous year's third quarter. Results for the third quarter of 2009 include impairments of long-lived assets of $3 million. Third quarter 2008 results include a $44 million charge for impairments of long-lived assets and gains on sales of facilities of $50 million. Income before income taxes was $406 million against $212 million for the same period a year ago. The company reported revenues for the nine months ended September 30, 2009 totaled $22.447 billion compared to $21.109 billion for the same period of 2008. Net income attributable to HCA Inc. was $838 million for the nine months ended September 30, 2009 compared to $397 million in the same period of the prior year. Adjusted EBITDA totaled $4.129 billion for the first nine months of 2009 compared to $3.337 billion for the same period of 2008. Results for the nine months ended September 30, 2009 include losses on sales of facilities of $8 million and impairments of long-lived assets of $16 million compared to gains on sales of facilities of $90 million and impairments of long-lived assets of $53 million in the first nine months of 2008. Cash flows from operating activities increased $900 million, from $1.415 billion for the nine months ended September 30, 2008 to $2.315 billion for the nine months ended September 30, 2009. The increase was due primarily to the $513 million increase in net income and $347 million improvement from changes in operating assets and liabilities and the provision for doubtful accounts. Income before income taxes was $1,551 million against $791 million for the same period a year ago. Purchase of property and equipment was $915 million against $1,115 million for the same period a year ago. The company reported impairment of long-lived assets for the quarter was $3 million against $44 million for the same period a year ago.

HCA Inc. has announced that Richard M. Bracken will become chairman of HCA's board of directors, effective December 15, 2009. Bracken will replace Jack O. Bovender, Jr., 64, who will retire from the company, effective that same date. In addition, R. Milton Johnson, HCA's chief financial officer and executive vice president, was elected to the board of directors, also effective December 15, 2009. Bracken, 57, has served as president and chief executive officer of HCA since January 1, 2009, and has served as a director of the company since 2002. He was president and chief operating officer from January 2002 to January 2009. Johnson, 52, has served 27 years with the company, holding positions as head of HCA's Tax Department and as Controller, before being named CFO and executive vice president in July of 2004.

HCA, Inc., Q3 2009 Earnings Call, Nov-05 2009