PacifiCare Gets Healthy Second Quarter Report

PacifiCare Health Systems Inc., a managed health care services company, said net income for its fiscal second quarter, ended March 31, rose 16%, to $31.9 million, or $1.01 a share, from $27.4 million, or 96 cents a share, for last year’s second quarter. Total quarterly operating revenue increased 27%, to $1.2 billion, from $912.8 million.

PacifiCare said total membership increased 28% over the prior year to nearly 2 million and included a 30% gain in commercial enrollment and a 25% gain in Medicare and Medicaid enrollment. For the first six months of fiscal 1996, net income totaled $59.8 million, or $1.89 per share, 26% higher than the $47.4 million, or $1.67 a share, recorded for the first half of fiscal 1995. Total operating revenue advanced 29% to $2.2 billion from $1.7 billion.