Finance

Coventry Health Care reports record operating revenues in first quarter

Published in Managed Care Law Weekly, June 4th, 2006

Coventry Health Care, Inc. (CVH) reported operating results for the quarter ended March 31, 2006.

Operating revenues reached a record $1.94 billion for the quarter with net earnings of $121.0 million, or $0.74 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 ($0.06) per diluted share related to Medicare Part D.

"I am delighted with the performance of our company in the first quarter of 2006," said Dale B. Wolf, chief executive officer of Coventry. "Our health plan business is a consistent...

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Source: Managed Care Law Weekly (2006-06-04)

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