February 12, 2004 |
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.
September 30, 2004 |
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
September 12, 2007 |
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.
May 5, 2006 |
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.
February 12, 2009 |
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.
April 30, 2008 |
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.