Business in the Burbs

Universal American earnings rise to $28M

August

Universal American Corp. reported earnings rose to $28.4 million in the second quarter, including a net gain on investments of $1.8 million, compared to $22.3 million a year ago, a 27.5 percent rise.

Excluding the net gain of 2 cents a share, the Rye Brook insurer reported per-share earnings of 30 cents in the three months ending June 30, compared to 35 cents last year.

Revenues rose 77.3 percent to $1.3 billion, the company said, noting that excluding revenues from its MemberHealth business, acquired in September, revenues rose just 16.5 percent.

This entry was posted on Friday, August 1st, 2008 at 9:51 am by David Schepp.
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