Centene Corporation Comments on Earnings Outlook
March 19 2008 - 12:44PM
Business Wire
Centene Corporation (NYSE: CNC) announced today that at the Lehman
Brothers 11th Annual Global Healthcare Conference on March 19,
2008, senior management of Centene Corporation will make the
following statement: �Having now closed the first quarter of 2008
through February, higher than budgeted medical costs in our Ohio
Aged, Blind and Disabled (ABD) population and impacts from the
worst flu season in more than 10 years have created a three to four
cent gap that we would need to make up in March to reach the low
end of our first quarter 2008 diluted earnings per share guidance
of�59 to 64 cents. The majority of this impact is driven by Ohio
ABD. We are currently reviewing our full year 2008 guidance,
including the impact on investment income�of actions by the Federal
Reserve during the first quarter. We will provide further
information on our Q1 earnings conference call scheduled for April
22, 2008 at 8:30AM EDT.� Members of the senior management team of
Centene Corporation will be meeting with investors and analysts on
March 19 and 20, 2008, at the Lehman Brothers 11th Annual Global
Healthcare Conference, including a 2PM EDT live web cast on March
19, 2008, available at
http://cc.talkpoint.com/LEHM002/031808a_jw/default.asp?entity=Centene
. About Centene Corporation Centene Corporation is a leading
multi-line healthcare enterprise that provides programs and related
services to individuals receiving benefits under Medicaid,
including the State Children�s Health Insurance Program (SCHIP) and
Supplemental Security Income (SSI). The Company operates health
plans in Arizona, Georgia, Indiana, New Jersey, Ohio, South
Carolina, Texas and Wisconsin. In addition, the Company contracts
with other healthcare and commercial organizations to provide
specialty services including behavioral health, health management,
long-term care, managed vision, nurse triage, pharmacy benefits
management and treatment compliance. Information regarding Centene
is available via the Internet at www.centene.com. The information
provided in this press release contains forward-looking statements
that relate to future events and future financial performance of
Centene. Subsequent events and developments may cause the Company's
estimates to change. The Company disclaims any obligation to update
this forward-looking financial information in the future. Readers
are cautioned that matters subject to forward-looking statements
involve known and unknown risks and uncertainties, including
economic, regulatory, competitive and other factors that may cause
Centene's or its industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. Actual
results may differ from projections or estimates due to a variety
of important factors, including Centene's ability to accurately
predict and effectively manage health benefits and other operating
expenses, competition, changes in healthcare practices, changes in
federal or state laws or regulations, inflation, provider contract
changes, new technologies, reduction in provider payments by
governmental payors, major epidemics, disasters and numerous other
factors affecting the delivery and cost of healthcare. The
expiration, cancellation or suspension of Centene's Medicaid
Managed Care contracts by state governments would also negatively
affect Centene.
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