Business & Finance

Coventry Health Care reports record second quarter earnings

Published in Health Insurance Week, September 3rd, 2006

Coventry Health Care, Inc. (CVH) reported operating results for the quarter ended June 30, 2006.

Operating revenues totaled $1.94 billion for the quarter with net earnings of $135.5 million, or $0.84 per diluted share. GAAP treatment for the Medicare Part D products results in a disproportionate loss early in the calendar year and a disproportionate gain later in the year. This quarter includes a GAAP loss of ($0.01) per diluted share related to Medicare Part D.

"We continue to be pleased with the results from our diverse businesses, including Medicare Part D," said Dale B. Wolf, chief executive officer of Coventry. "The strong cash flow from our...

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Source: Health Insurance Week (2006-09-03)

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