Centene Corporation to Provide 2010 Financial Guidance On January 8, 2010
December 10 2009 - 6:00AM
PR Newswire (US)
Company reaffirms 2009 financial guidance ST. LOUIS, Dec. 10
/PRNewswire-FirstCall/ -- Centene Corporation (NYSE: CNC) today
announced that it plans to release its 2010 financial guidance at
approximately 6:00 AM (Eastern Time) on Friday, January 8, 2010,
and host a conference call afterwards at approximately 8:30 AM
(Eastern Time) to discuss the details of its guidance. Michael F.
Neidorff, Chairman and Chief Executive Officer, and William N.
Scheffel, Executive Vice President, Chief Financial Officer and
Treasurer, of Centene Corporation will host the call. While Centene
believes its underlying long-term growth trends remain intact, the
Company expects 2010 earnings per share to be approximately flat
compared to 2009. This expectation reflects anticipated start-up
costs associated with the new Mississippi contract, announced
pharmacy carve-outs in Indiana and Ohio, and the impact of January
2010 rate changes. These initial 2010 earnings expectations do not
reflect the potential impact of federal healthcare reform. Centene
plans to provide more detailed 2010 financial guidance on January
8, 2010. Additionally, the Company announced that based on results
for the first two months of the fourth quarter of 2009, Centene is
reaffirming its previous 2009 financial guidance. Investors and
other interested parties are invited to listen to the conference
call by dialing 800-273-1254 in the U.S. and Canada; 973-638-3440
from abroad, or via a live, audio webcast on the Company's website
at http://www.centene.com/, under the Investors section. A replay
will be available for on-demand listening shortly after the
completion of the call until 11:59 PM (Eastern Time) on January 22,
2010, at the aforementioned URL, or by dialing 800-642-1687 in the
U.S. and Canada, or 706-645-9291 from abroad, and entering access
code 45124123. 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 Children's Health Insurance Program (CHIP), as well
as Aged, Blind, or Disabled (ABD), Foster Care, Long-Term Care and
Medicare (Special Needs Plans). The Company operates local health
plans and offers a range of health insurance solutions to
individuals and the rising number of uninsured Americans. It also
contracts with other healthcare and commercial organizations to
provide specialty services including behavioral health, life and
health management, managed vision, telehealth services, pharmacy
benefits management and medication adherence. Information regarding
Centene is available via the Internet at http://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. DATASOURCE: Centene Corporation CONTACT: Edmund E. Kroll,
Senior Vice President, Finance and Investor Relations of Centene
Corporation, +1-212-759-0382 Web Site: http://www.centene.com/
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