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WellPoint Profit Climbs 8.6%

August 05, 1997|From Times Wire Services

WellPoint Health Networks Inc. said Monday that its second-quarter profit rose 8.6%, beating estimates, driven by membership gains in its managed-care plans.

Profit, before a charge, climbed to $54 million, or 77 cents a share, from $49.8 million, or 75 cents, a year earlier. Revenue at the Woodland Hills company rose 39%, to $1.49 billion from $1.07 billion.

Analysts had expected WellPoint to earn 74 cents a share.

At a Glance:

Foodmaker Inc., the San Diego-based parent of Jack in the Box restaurants, reported fiscal third-quarter earnings of $10 million, or 25 cents a share, compared with $5.5 million, or 14 cents, a year ago.

El Segundo-based Merisel Inc. reported second-quarter profit of $2.0 million, or 7 cents per share, contrasted with a loss of $11.4 million, or 38 cents, a year ago.

Mercury General Corp. of Los Angeles reported second-quarter net income of $35.7 million, or $1.30 per share, from $27.4 million, or $1, a year ago.

Sport Chalet Inc. of Los Angeles reported fiscal first-quarter net income of $246,000, or 4 cents per share, compared with $91,000, or 1 cent, a year ago.

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