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Healthways 2Q net income rises 33 percent

Thu, 07/22/2010 - 2:45pm
The Associated Press

Wellness-program provider Healthways Inc. said Thursday its second-quarter net income rose 33 percent as lower costs and expenses offset a slight dip in revenue.

Healthways said it earned $11.8 million, or 34 cents per share, up from $8.9 million, or 26 cents per share, a year prior. Revenue fell 1 percent to $175.5 million from $177.8 million.

Excluding one-time items, the company said it had net income of 29 cents per share. Analysts polled by Thomson Reuters expected net income of 27 cents per share on revenue of $176.8 million.

Cost of services, meanwhile, fell 5 percent to $122 million. Aside from the lower costs, the company had a $1.2 million gain on the sale of an investment.

Looking ahead, the company expects net income between 26 and 29 cents per share in the third quarter. Analysts expect net income of 29 cents per share.

The company also raised its full-year outlook. It now expects net income between $1.12 and $1.23 per share, up from prior guidance of $1.05 to $1.18 per share. It now expects revenue between $695 million and $718 million compared with the previous range of $677 million to $718 million.

Analysts expect net income of $1.12 per share and revenue of $713.1 million in 2010.

Shares of Healthways rose 48 cents, or 4 percent, to close Thursday at $12.44.

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