WellPoint 4th-quarter net income drops

 

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On Wednesday January 26, 2011, 6:33 am

INDIANAPOLIS (AP) -- WellPoint says its fourth-quarter net income declined, as the prior-year period included a large gain related to a sale. Its adjusted results beat Wall Street's view.
The largest publicly traded health insurer based on enrollment earned $548.8 million, or $1.40 per share, for the three months ended Dec. 31. That's down from $2.74 billion, or $5.95 per share, a year earlier.
Adjusted earnings rose to $1.33 per share from $1.16 per share.
Analysts forecast a smaller profit of $1.23 per share.
Revenue was $14.65 billion, topping analysts' $14.37 billion.
Medical enrollment surpassed 33.3 million members at quarter's end, down 1 percent from the year-ago period.
The Indianapolis company expects 2011 earnings of at least $6.30 per share. Analysts forecast $6.58 per share.