Tina
16 years ago
BETHESDA, Md. (July 25, 2008) - Coventry Health Care, Inc. (NYSE: CVH) today reported consolidated
operating results for the quarter ended June 30, 2008. Consistent with the Company’s most recent guidance, operating
revenues totaled $2.98 billion for the quarter with net earnings of $83.2 million, or $0.55 per diluted share.
Second Quarter Highlights
· Company-wide revenue increased 27.7% from the prior year quarter
· Medicare Advantage and Part D sequential enrollment growth totaling 74,000 members
· Continued steady growth in small group commercial and individual membership
· Specialty Business Division revenue growth of 15% sequentially and 30% year over year
o Dental capability added to the product portfolio during the quarter
· Share repurchase activities
o 1.0 million shares repurchased during the quarter, bringing total share repurchases through June 30, 2008 to
4.2 million shares
o Additional share repurchase authority obtained during the quarter, increasing the remaining outstanding
repurchase authority to 9.9 million shares as of June 30, 2008
o The Company plans to continue to deploy free cash to repurchase its shares throughout the remainder of 2008
http://www.coventryhealthcare.com/web/groups/public/@cvty_corporate_chc/documents/pressrelease/c002616.pdf
Tina
16 years ago
Actually, I agree in this case (to da moon).
I know a lot about this company and their tactics which can be classified as downright unethical but results in profitability (at least in the past, will have to research recent fins).
I'll post more about my experiences with them which included outsourcing, hostile takeovers, horrendous employee treatment, audits, etc
bottom line with Conventry is all about making $$$$$ (no matter what)
and they're very good at making it :)
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