Universal American Corp. Reports First Quarter 2010 Results and Reaffirms 2010 ... MarketWatch (press release)
Today announced financial results for the quarter ended March 31, 2010.First Quarter 2010 Highlights
-- Net income was $1.4 million, or $0.02 per share, including a non-recurring tax benefit of $2.3 million, or $0.03 per share, and after-tax net realized losses of $0.2 million.
-- Revenues increased 11% to $1.5 billion from the $1.4 billion for the prior year period.
Reaffirms 2010 Guidance
-- Earnings per share of $1.70 to $1.80, excluding realized gains and losses on investments and non-recurring tax benefits.
-- Revenues of between $5.3 and $5.6 billion.
First Quarter 2010
Universal American's reported net income for the first quarter of 2010 was $1.4 million, or $0.02 per share. The reported net income includes a non-recurring tax benefit of $2.3 million, or $0.03 per share, and after-tax net realized losses of $0.2 million, or less than $0.01 per share. The results for the first quarter include $7.8 million, or $0.10 per share, after-tax of net prior period items.
