PacifiCare Posts $2.9 Million in First-Quarter Earnings

PacifiCare Health Systems Inc., the Cypress-based owner and operator of health maintenance organizations, reported that net earnings for the first fiscal quarter more than doubled, to $2.9 million from $1.1 million a year earlier.

The results for the fiscal 1990 first quarter included a gain of $1.8 million from the sale of the company’s operation in Austin, Tex. Revenue for the three months ended Dec. 31 increased 63%, to $204.4 million from $125 million.

According to Terry Hartshorn, president and chief executive, the results reflected a gain in membership and lower medical costs.