Life Insurance

The company, which manages hospitals and surgery centers, said quarterly profit totaled $46.3 million, or 53 cents per share, down from $49.2 million, or 64 cents per share a year earlier. Earnings from continuing operations grew to $54.6 million, or 63 cents per share, from $43.2 million, or 56 cents per share a year ago.

Triad said the latest quarter included about $1.6 million, or 2 cents per share, of expenses from hurricanes Katrina and Rita, after estimated insurance proceeds.

At locations open at least one year, inpatient admissions fell 1.4 percent, adjusted admissions declined 2 percent, and inpatient surgeries dropped 0.4 percent including the impact of hurricanes. Excluding the storms, a change in certain insurance admission criteria, and a shift in admissions to a new Triad facility, the company said inpatient admissions would have grown slightly.

Triad lowered its 2005 guidance for earnings from continuing operations to about $2.82 to 2.84 per share from a prior range of $2.82 to 2.90 per share. That guidance includes fourth-quarter expectations for earnings of 69 cents to 71 cents per share from continuing operations, the company said.

The company said it expects annual earnings per share growth, beyond 2005, in the mid-teens percent range, excluding the impact of expensing stock options.

This is cache, read story here