View Health Net's (NYSE: HNT) Q4 Earnings Report
Highlights:
- Fourth quarter GAAP net income totaled $80.4 million, or $0.83 per diluted share, compared with a GAAP net loss of $45.2 million, or $0.43 per share, for Q4 2009
- Full-year GAAP net income was $204.2 million, or $2.06 per diluted share, compared with a net loss of $49.0 million, or $0.47 per share, for the full-year 2009
- Q4 2010 results include a $24.9 million noncash benefit to health plan expenses related to a litigation reserve true-up and $13 million of expenses primarily related to litigation expenses and the company's overhead cost reduction efforts
- Fourth quarter total revenues dropped 11.2 percent to $3.4 billion from $3.8 billion in Q4 2009
- Health plan services premium revenues decreased by 16.5 percent in the fourth quarter to $2.5 billion from $3.0 billion the fourth quarter of 2009.
- Health plan services expenses decreased to $2.1 billion in the Q4 2010 from $2.6 billion in the same period last year
- For the fourth quarter, investment income decreased to $15.2 million from $33.5 million in Q4 2009
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Health Net's website: www.healthnet.com