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WellPoint 4th-quarter net income drops

Wed, 01/26/2011 - 1:45am
The Associated Press

WellPoint says its fourth-quarter net income declined, as the prior-year period included a large gain related to a sale. Its adjusted results beat Wall Street's view.

The largest publicly traded health insurer based on enrollment earned $548.8 million, or $1.40 per share, for the three months ended Dec. 31. That's down from $2.74 billion, or $5.95 per share, a year earlier.

Adjusted earnings rose to $1.33 per share from $1.16 per share.

Analysts forecast a smaller profit of $1.23 per share.

Revenue was $14.65 billion, topping analysts' $14.37 billion.

Medical enrollment surpassed 33.3 million members at quarter's end, down 1 percent from the year-ago period.

The Indianapolis company expects 2011 earnings of at least $6.30 per share. Analysts forecast $6.58 per share.

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