Universal Health Services posts $ 61.7 million Net income, 1Q

The owner of hospitals and health care centers said after adjusting hurricane expenses and the sale of vacant land the firm earned 89 cents per share.

The group said net revenues increased 8 percent to $1.30 billion during the first quarter of 2008 compared to $1.20 billion during the same quarter in 2007.

Its forecasts by December 31, 2008 are earnings ranging from $3.70 to $3.80 per share. The company made forecast from $3.37 to $3.42 per share in February.

Shares of Universal Health Services Inc. rose 1.70 percent or 0.98 cents to $57.52 in after trading hours in the New York Stock Exchange on Thursday.