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Wellpoint Health Networks Inc

BUSINESS
April 22, 2004 | From Bloomberg News
WellPoint Health Networks Inc., which is being acquired by Anthem Inc. to form the largest U.S. health insurer, said Wednesday that first-quarter profit rose 53% as the company added members and managed costs better. Net income increased to $295.2 million, or $1.85 a share, from $193.1 million, or $1.29, a year earlier, Thousand Oaks-based WellPoint said. Revenue rose 17% to $5.65 billion from $4.84 billion a year earlier.
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BUSINESS
October 26, 2004 | Julie Tamaki, Times Staff Writer
Swelling membership in key markets, including California, helped WellPoint Health Networks Inc. post a 28% increase in third-quarter profit. The Thousand Oaks-based health insurer earned $315.1 million, or $1.97 a share, compared with $246.2 million, or $1.63, a year earlier. Revenue rose 16% to $5.85 billion from $5.05 billion. WellPoint's purchase of Cobalt Corp. in September 2003 lifted its profit by $15.4 million during the third quarter. Analysts had forecast a per-share profit of $1.
BUSINESS
September 28, 2002 | DON LEE, TIMES STAFF WRITER
Facing a raft of criticisms from legislators, consumers and doctors, WellPoint Health Networks Inc. said Friday that it would reconsider the terms of its $1.3-billion bid for CareFirst Inc., a nonprofit health insurer with 3.2 million members in the Eastern United States. The bid is a key part of WellPoint's strategy to expand into the East and solidify its position as the nation's largest provider of Blue Cross Blue Shield health plans.
BUSINESS
October 24, 2002 | Don Lee, Times Staff Writer
WellPoint Health Networks Inc., one of the nation's largest health insurers, said Wednesday that its third-quarter profit nearly doubled from a year earlier, thanks to investment gains, enrollment growth and lower administrative costs. The results from the Thousand Oaks-based parent of Blue Cross of California exceeded expectations and reflected the financial strength in the managed-care industry, which has kept ahead of surging health costs with hefty premium increases.
BUSINESS
November 24, 2005 | Debora Vrana, Times Staff Writer
Blue Cross premiums in California rose sharply after an out-of-state insurer bought the company offering the plans, but consumers were not stuck paying for the $21-billion deal, according to a state audit released Wednesday. There is no evidence that health insurance rate hikes were used to pay costs related to the acquisition of Thousand Oaks-based WellPoint Health Networks Inc. by Indianapolis-based Anthem Inc.
BUSINESS
February 15, 2000 | From Bloomberg News
WellPoint Health Networks Inc., one of California's biggest health insurers, said Monday that fourth-quarter earnings rose 17%, which was more than expected, as it boosted premiums and attracted new members. Profit from operations rose to $78.8 million, or $1.20 a share, from net income of $67.4 million, or 99 cents, in the year-earlier period. WellPoint was expected to earn $1.13, based on the average estimate of analysts polled by First Call/Thomson Financial. Revenue rose 15% to $1.
BUSINESS
July 27, 2004 | Lisa Girion, Times Staff Writer
Shares of Anthem Inc. and WellPoint Health Networks Inc. fell Monday over concerns that legal battles could delay Anthem's planned $17-billion acquisition of the Thousand Oaks company. Trading in both stocks was halted Friday shortly before California Insurance Commissioner John Garamendi rejected WellPoint's proposed sale of its Blue Cross Life & Health subsidiary to Anthem. That Blue Cross unit is a small part of the company.
BUSINESS
February 8, 2005 | From Associated Press
WellPoint Inc. said Monday that its fourth-quarter profit dropped nearly 12%, primarily because of expenses related to debt retirement and the acquisition that created the nation's largest health insurance company. For the three months ended Dec. 31, profit fell to $184.5 million, or 92 cents a share, compared with $208.8 million, or $1.47, a year earlier. Revenue rose 59% to $6.7 billion. It was the company's first earnings report since the $16.5-billion purchase by Anthem Inc.
BUSINESS
April 27, 2006 | Daniel Yi, Times Staff Writer
WellPoint Inc., the nation's largest health insurer with more than 7 million members in California, saw first-quarter profit rise 20% on the heels of acquisitions and growing membership, the company said Wednesday. The report, however, gave more fodder to consumer and doctor groups who say the industry's rising profitability is due to a consolidation trend that is pushing up premiums and lowering compensation for physicians.
BUSINESS
January 26, 2006 | From Reuters
WellPoint Inc., the nation's largest health insurer, said Wednesday that profit rose sharply in the fourth quarter and boosted its 2006 profit outlook, although by less than analysts had expected. Its net income more than tripled to $652 million, or $1.04 a share, from $184.5 million, or 46 cents, in the year-earlier quarter, when the Indianapolis-based company took 39 cents a share in charges related to its merger and repurchased debt. The company was formed in November 2004 when Anthem Inc.
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