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Article: Magellan Health Services Reports Third Quarter 2009 Financial Results.
- Article from:
- Business Wire
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Company Expects 2009 Results in Upper Half of Guidance Range
Secures National Behavioral Health Agreement with WellCare
AVON, Conn. -- Magellan Health Services, Inc. (Nasdaq:MGLN) today reported net income of $31.0 million, or $.88 per diluted common share, and segment profit of $64.5 million for the third quarter of 2009. The Company also increased guidance for the full year to the upper half of its previously disclosed range.
The Company attributed these results to strong revenue performance across all business segments and effective cost-of-care management. It also announced today that it has signed a binding letter of agreement with WellCare ...