Income Drops for Triad Hospitals

“Doubtful accounts” led to a 68 percent decrease in net income for Triad Hospitals Inc. for the third quarter compared to the same three-month period in 2002, according to an earnings announcement on Oct. 27.r

Triad, the nation’s third largest hospital chain, said third-quarter net income decreased to $10.4 million, or 14 cents a share, from $32.6 million, or 43 cents a share, a year ago. A cash tender offer to purchase $325 million of its 11 percent senior subordinated notes due in 2009, also contributed to the loss, the company said.r

The health care company’s quarterly revenue climbed 9.8 percent to $982 million, from $894 million a year ago. The revenue increase was attributed to the company’s inpatient admissions and inpatient surgeries on a same- facility basis. r