Maxicare Health Plans Inc.: The Los Angeles...
From Times Staff and Wire Reports
Maxicare Health Plans Inc.: The Los Angeles health maintenance organization reported a fourth-quarter profit of $657.77 million, contrasted with a loss of $12.16 million a year earlier. Revenue declined 9% to $94.7 million. For the year, profit totaled $676.72 million, contrasted with a loss of $34.49 million in 1989. Revenue for 1990 fell 25% to $386.9 million. The fourth-quarter and full-year results benefited from an extraordinary gain of $680.44 million related to the discharge of liabilities from bankruptcy proceedings. Excluding that gain, the company suffered a fourth-quarter loss of $1.23 million and a full-year loss of $3.73 million.
Tables, D12
