Aetna’s Net Drops in Quarter

Fourth-quarter net income of the Hartford, Conn.-based firm was $141.9 million, a drop of 5.8% from the 1989 period, which included a $22-million benefit from tax loss carry-forwards. Revenue was $4.6 billion, off 12.3%. For the year, profit was $614.1 million, a 9.2% decline from 1989. Revenue totaled $19 billion, down 3.7%. The company said the 1990 results reflect a one-time charge of $60 million in the third quarter associated with severance, benefits and other costs of reorganizing domestic operations.