Advertisement

PacifiCare Health Systems Inc., a Cypress-based operator...

Share

PacifiCare Health Systems Inc., a Cypress-based operator of health maintenance organizations, reported that its net income was unchanged at $2.1 million for the second quarter ended March 31. Revenue for the quarter increased 46% to $157 million, contrasted with $107.5 million for the period the year before. For the 6-month period, net income increased 25% to $3.2 million, contrasted with $2.5 million for the period for the previous year. Revenue was $283.8 million, up 42% from $199.6 million. PacifiCare, which operates HMOs in four western states and also sells health insurance plans, said increased costs for health care and overhead kept earnings from increasing during the second quarter. The company said membership in its HMOs has increased by nearly 150,000 in the past year, with about 430,000 members enrolled as of March 31.

Advertisement