PacifiCare Health Systems Posts $27.4-Million 2nd-Quarter Profit

PacifiCare Health Systems Inc., a Cypress-based managed health-care services company, reported second-quarter profit of $27.4 million, or 96 cents a share, an increase of 32% over $20.8 million, or 75 cents a share, earned for last year’s second quarter. Revenue for the fiscal quarter that ended March 31 increased 28% to $912.8 million from $714.4 million last year. For the first six months, the company earned $47.4 million, or $1.67 a share, compared with earnings of $41.2 million, or $1.48 a share, for last year’s first half, which included a gain of $5.7 million from an accounting change. Revenue rose 21% to $1.7 billion from $1.4 billion.