Universal Health Services Declares Split; Reports Positive Earnings for First Quarter

After the closing bell on Tuesday, Universal Health Services, Inc. (NYSE:UHS) announced a 2-for-1 stock split payable in the form of a 100% stock dividend; however, the split is contingent upon the approval of shareholders who will meet on May 23, 2001. If the expected votes are received, the payable date will be June 1, 2001. UHS currently has 29.9 million shares outstanding and 10.6 million in the float. This will be the Company's second stock split.

Universal also announced earnings results for the period ending March 31, 2001. Diluted EPS of $1.16 beat street estimates by four cents and towered over last year's earnings of $0.92 for the same period. Net income for the quarter was $36.2 million, increasing by 26 percent from the prior year.

SplitTrader has been waiting for today's announcement from Universal and had the company listed on our candidates list. Please check back for updates as we watch the split run for lucrative play opportunities.

UHS shares closed up +3.34 today to $92.47 on average volume of 212,300 shares.

About the Company:

Universal Health Services, Inc. operates facilities nationwide and in France including medical, surgical acute care and behavioral health hospitals, ambulatory surgery and radiation therapy centers. UHS acts as advisor to Universal Health Realty Income Trust (NYSE: UHT - news) a real estate investment trust. (company press release)

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