Coventry Health Care, Inc. (NYSE: CVH - News) today reported consolidated operating results for the quarter ended March 31, 2010. Operating revenues totaled $2.9 billion for the quarter with net earnings of $97.3 million, or $0.66 earnings per diluted share (EPS). Excluding the favorable impact of Medicare Advantage Private Fee-for-Service (MA-PFFS) results(1) in the quarter, operating revenues totaled $2.9 billion for the quarter with net earnings of $71.9 million, or $0.49 EPS.

“While it is still early in the year, I am pleased with our first quarter financial results particularly given the challenging macroeconomic operating environment,” said Allen F. Wise, chairman and chief executive officer of Coventry. [Read the full article]

Achieves Net Income of $25.5 Million and Segment Profit of $61.4 Million Completes $100 Million Stock Repurchase Program

Magellan Health Services, Inc. (Nasdaq: MGLN - News) today reported net revenue of $728.1 million, net income of $25.5 million or $0.73 per diluted common share, and segment profit, representing income from continuing operations before stock compensation expense, depreciation and amortization, interest expense, interest income, gain on sale of assets, special charges or benefits, and income taxes, of $61.4 million for the quarter ended March 31, 2010. This compares to net revenue of $619.5 million, net income of $13.6 million or $0.37 per share, and segment profit of $39.1 million for the same period last year. [Read the full article]