UPDATE 1-Tenet lowers outlook as patient admissions decline
Aug 6 (Reuters) - Tenet Healthcare Corp, which is buying smaller hospital operator Vanguard Health Systems Inc , on Tuesday reported a bigger second-quarter net loss as it admitted fewer patients to its facilities, and it lowered its full-year outlook.
Inpatient admissions declined 3.5 percent in the quarter, offsetting a 2.5 percent rise in outpatient visits.
Tenet reported a net loss of $50 million, or 49 cents a share, compared with a loss of $6 million, or 6 cents a share, a year earlier.
Income from continuing operations, excluding one-time items, rose to 66 cents a share from 41 cents.
On that basis, analysts had expected a profit of 69 cents a share, according to Thomson Reuters I/B/E/S.
Net operating revenue rose 6.9 percent to $2.42 billion.
Earnings before interest, taxes, appreciation and amortization rose 16.7 percent to $336 million.
For full-year 2013, Tenet said it now expected EBITDA, excluding special items, of $1.25 billion to $1.30 billion, below its previous forecast range of $1.33 billion to $1.43 billion.