Molina Healthcare Inc

Molina Healthcare Inc., a managed-care organization that serves Medicaid patients, reported lower fourth-quarter earnings as increased hospital costs continued to weigh on results, offsetting higher premium revenue. The Long Beach-based company said net income fell to $10.7 million, or 38 cents a share, from $16.3 million, or 58 cents, a year earlier. Results included expenses of 8 cents a share related to provider disputes and a benefit of 10 cents a share related to reduced liability claims.

Molina Healthcare Inc. said its profit shrank in the fourth quarter on higher medical costs, though the health insurer's performance still met Wall Street estimates. For the period ended Dec. 31 the Long Beach company reported net income of $15.5 million, or 58 cents a share, compared with $17.9 million, or 63 cents, a year earlier. Revenue climbed to $812.5 million from $678.6 million on increased membership and higher premium payments. However, those gains were offset by higher expenses, which rose to $785 million from $648 million, driven by rising medical costs.

Molina Healthcare Inc. credited membership growth and higher premiums as it reported a 39% jump in its first-quarter profit Tuesday. The Long Beach-based managed-healthcare company reported net income of $11.1 million, or 43 cents a share, up from $8 million, or 40 cents, a year earlier. Revenue climbed 14% to $217.9 million from $191.4 million. Membership grew 14% and contributed $26.9 million to revenue in the quarter. Molina said higher premiums in Washington and Michigan added $7.

Molina Healthcare Inc., a health insurer that specializes in Medicaid plans, reported a 38% rise in quarterly profit as premium revenue surged, but cut its 2008 earnings outlook partly because of declining interest rates and higher taxes. First-quarter net income was $13.2 million, or 46 cents a share, compared with $9.6 million, or 34 cents, a year earlier. Revenue rose 31% to $737 million. Analysts were expecting the Long Beach company to earn 45 cents a share on revenue of $708.

Molina Healthcare Inc. said its fourth-quarter profit more than doubled to $11.9 million, or 46 cents a share, from $4.9 million, or 24 cents, a year ago. The Long Beach managed-care company, which specializes in serving people on Medicaid and low-income individuals, attributed the results to increases in both membership and premiums. Its membership grew 15.3% last year to 564,000 members in California, Washington, Michigan and Utah. Molina posted a full-year profit of $42.5 million, or $1.

Long Beach-based Molina Healthcare of California has appointed Joann Zarza-Garrido as chief executive, the company announced. Zarza-Garrido, who had held the job on an interim basis since March, will report to Dr. J. Mario Molina, chief executive of parent Molina Healthcare Inc. Zarza-Garrido joined Molina in 1992, serving in jobs including chief compliance officer. -- Lisa Girion

Molina Healthcare Inc. raised its 2007 profit forecast to a range of $1.85 to $1.95 a share. The Long Beach-based provider of managed care, which last week agreed to acquire Mercy CarePlus for about $74 million, had expected earnings of $1.75 to $1.90 a share. Profit was $1.62 a share last year. Net income will be $52.9 million to $55.8 million for the year, on $2.4 billion in premium revenue, the company forecast.

Insurer Molina Healthcare Inc. said its first-quarter profit fell 42% as medical costs increased. Net income at the Long Beach-based company fell to $8.6 million, or 31 cents a share, from $14.8 million, or 53 cents, a year earlier. Revenue rose 15% to $453 million. Analysts, on average, expected a profit of 26 cents a share, according to Reuters Estimates. Molina's shares fell 58 cents to $33.50 before the earnings announcement.

Molina Healthcare Inc. said its profit shrank in the fourth quarter on higher medical costs, though the health insurer's performance still met Wall Street estimates. For the period ended Dec. 31 the Long Beach company reported net income of $15.5 million, or 58 cents a share, compared with $17.9 million, or 63 cents, a year earlier. Revenue climbed to $812.5 million from $678.6 million on increased membership and higher premium payments. However, those gains were offset by higher expenses, which rose to $785 million from $648 million, driven by rising medical costs.

Molina Healthcare Inc., a health insurer that specializes in Medicaid plans, reported a 38% rise in quarterly profit as premium revenue surged, but cut its 2008 earnings outlook partly because of declining interest rates and higher taxes. First-quarter net income was $13.2 million, or 46 cents a share, compared with $9.6 million, or 34 cents, a year earlier. Revenue rose 31% to $737 million. Analysts were expecting the Long Beach company to earn 45 cents a share on revenue of $708.

Molina Healthcare Inc. raised its 2007 profit forecast to a range of $1.85 to $1.95 a share. The Long Beach-based provider of managed care, which last week agreed to acquire Mercy CarePlus for about $74 million, had expected earnings of $1.75 to $1.90 a share. Profit was $1.62 a share last year. Net income will be $52.9 million to $55.8 million for the year, on $2.4 billion in premium revenue, the company forecast.

Shares of Molina Healthcare Inc. fell the most in 10 weeks after the managed-care provider gave a 2007 forecast Thursday that fell short of analysts' estimates. Long Beach-based Molina said full-year profit would be about $1.75 to $1.90 a share. The company had been expected to earn $2.08, the average estimate of eight analysts in a Bloomberg survey.

* Watson Pharmaceuticals Inc., the generic-drug maker that just bought Andrx Corp. for $1.9 billion, said third-quarter profit dropped 12%, hurt by lower pricing for copies of brand-name drugs. Net income fell to $34.4 million, or 31 cents a share, from $39.1 million, or 35 cents, a year earlier, Corona- based Watson said. Revenue rose 7.4% to $440.5 million. * Managed-care company Molina Healthcare Inc. said its third-quarter profit soared to $12.3 million, or 44 cents a share, from $6.

Insurer Molina Healthcare Inc. said its first-quarter profit fell 42% as medical costs increased. Net income at the Long Beach-based company fell to $8.6 million, or 31 cents a share, from $14.8 million, or 53 cents, a year earlier. Revenue rose 15% to $453 million. Analysts, on average, expected a profit of 26 cents a share, according to Reuters Estimates. Molina's shares fell 58 cents to $33.50 before the earnings announcement.

Molina Healthcare Inc., a managed-care organization that serves Medicaid patients, reported lower fourth-quarter earnings as increased hospital costs continued to weigh on results, offsetting higher premium revenue. The Long Beach-based company said net income fell to $10.7 million, or 38 cents a share, from $16.3 million, or 58 cents, a year earlier. Results included expenses of 8 cents a share related to provider disputes and a benefit of 10 cents a share related to reduced liability claims.

Struggling Molina Healthcare Inc. reported Thursday that profit for the third quarter fell 58% because of an unforeseen increase in medical costs. Still, in what was seen as a positive sign, the Long Beach-based health maintenance organization raised its earnings estimate for the year. After the earnings announcement, Molina shares rose 6.5% to $23.54 in after-hours trading. The profit decline came on the heels of a loss in the second quarter.

* Watson Pharmaceuticals Inc., the generic-drug maker that just bought Andrx Corp. for $1.9 billion, said third-quarter profit dropped 12%, hurt by lower pricing for copies of brand-name drugs. Net income fell to $34.4 million, or 31 cents a share, from $39.1 million, or 35 cents, a year earlier, Corona- based Watson said. Revenue rose 7.4% to $440.5 million. * Managed-care company Molina Healthcare Inc. said its third-quarter profit soared to $12.3 million, or 44 cents a share, from $6.

Molina Healthcare Inc., which specializes in arranging healthcare for Medicaid recipients, said Monday that it won a chance to retain contracts with two California counties valued at a combined $111 million in annual revenue. In May, Long Beach-based Molina learned the California Department of Health Services planned to take away two contracts it had with Riverside and San Bernardino counties and award them instead to Blue Cross of California.

Molina Healthcare Inc., which specializes in arranging healthcare for Medicaid recipients, said Monday that it won a chance to retain contracts with two California counties valued at a combined $111 million in annual revenue. In May, Long Beach-based Molina learned the California Department of Health Services planned to take away two contracts it had with Riverside and San Bernardino counties and award them instead to Blue Cross of California.

Blaming unforeseen rises in medical costs, Long Beach-based Molina Healthcare Inc. on Monday reported a loss of $4.7 million for the second quarter, sharply lower from a profit of $12 million during the same period last year. The loss was no surprise. In late July, the fast-growing HMO had warned investors it would report weaker-than-expected results during the quarter and cut its earning forecasts for 2005 by 70%, causing its shares, which had been trading around $45, to plummet 43% in one day.