Molina raises profit forecast
From Times Wire Services
Molina Healthcare Inc. raised its 2007 profit forecast to a range of $1.85 to $1.95 a share.
The Long Beach-based provider of managed care, which last week agreed to acquire Mercy CarePlus for about $74 million, had expected earnings of $1.75 to $1.90 a share. Profit was $1.62 a share last year.
Net income will be $52.9 million to $55.8 million for the year, on $2.4 billion in premium revenue, the company forecast.
