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BRIEFLY

Health

May 09, 1996|Times Staff and Wire Reports

Health Systems Posts Profit: Health Systems International Inc. said first-quarter profit per share rose 10% and that it pulled the planned sale of 2.9 million shares because of a decline in its stock price. Per-share earnings rose to 54 cents from 49 cents before merger-related expenses from operations in the year-earlier period, the Woodland Hills-based company said. The per-share result was a penny below average estimate of Wall Street analysts. The company said the reorganization was necessary because of the time and resources spent in merger negotiations with Woodland Hills-based WellPoint Health Networks Inc. Talks ended in December without a merger.

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