Second-Quarter Results Set Record for FHP International Corp.

FHP International Corp. said net earnings during its fiscal 1987 second quarter, ended Dec. 31, rose 43% to a record $3 million from $2.1 million a year earlier. The Fountain Valley holding company for the FHP prepaid health plan said quarterly revenues increased 42%, to $90.2 million, from $63.4 million during the year-ago period.

For the first half of its 1987 fiscal year, FHP said, net earnings increased 45% to a record $5.8 million from $4 million during the prior year’s first half. Six-month revenues climbed 45% to $175.6 million from $121 million a year earlier.

Company officials attributed the strong results in part to continued membership growth. At the end of December, FHP had 272,000 members, up 21% from the end of 1985. A company spokesman said the increased membership was split about evenly between new Medicare patients and new commercial members in Arizona and New Mexico.

FHP, which went public last July with an initial stock offering that grossed about $25.3 million, provides prepaid medical care in California, Utah, Arizona, New Mexico and Guam. The company also operates its own hospital in Fountain Valley.