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Tenet profit falls 51% after '09 gain

Wall Street Journal, May 5, 2010

Tenet Healthcare Corp. posted a 51% decline in first-quarter profit following a prior-year gain, with cost controls and solid pricing helping to expand the hospital operator's margins even as patient volume fell, the Wall Street Journal reports. Operating income and earnings before interest, taxes, depreciation and amortization, or Ebitda, both increased by more than Wall Street expected, while admissions of lucrative commercially insured patients fell and uninsured admissions rose.