CorVel Net Income Up 15% for Quarter, to $3.1 Million

CorVel Corp., an Irvine provider of managed care services, posted record net income of $3.1 million, or 39 cents a share, for the fourth quarter, 15% higher than the $2.7 million, or 33 cents a share, for the comparable quarter last year. Revenue for the quarter ended March 31 was up 13% to $48.9 million.

For the year, net income gained 15% to $12 million, or $1.47 a share, from $10.4 million, or $1.26 a share, the previous year. Revenue increased 13% to $186.8 million.