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AMERIGROUP Reports Q1 Net Income of $36.9 Million or $0.69 per Diluted Share
Date:5/1/2009

the expected range of 45 to 55 days, and compares to 52 days in the previous quarter.

Cash flow provided by operations totaled $36.1 million for the three months ended March 31, 2009, which was approximately 1.0 times quarterly net income, compared to cash used in operations of $6.6 million in the first quarter of 2008.

2009 Outlook

AMERIGROUP increased its 2009 annual earnings guidance range to $2.70 to $2.85 per diluted share from the previous range of $2.50 - $2.65.

"Given our strong results in the first quarter, we are raising our earnings guidance for the year," said James W. Truess, AMERIGROUP Chief Financial Officer. "Our earnings expectations for the remaining three quarters of the year continue to be largely in-line with our previous expectations. Although we now expect higher membership, we remain cautious on the premium rate environment."

AMERIGROUP's 2009 earnings guidance is predicated on the following assumptions among others:

                                                     2009 Guidance
                                                    ---------------
    Total revenues                                $5.0 - $5.1 billion
    Investment income and other (1)         Approximately $33 million
    Health benefits ratio                               84.1% - 84.5%
    Selling, general & administrative ratio               8.1% - 8.5%
    Fully diluted shares outstanding        Approximately 54 million

    (1) Investment income and other includes the gain on the sale of South
        Carolina health plan assets recorded in the first quarter of 2009.

First Quarter Earnings Call

AMERIGROUP senior management will discuss the Company's first quarter results on a conference call Friday, May 1, 2009 at 8:30 a.m. Eastern Daylight Time (EDT). The conference can be accessed by dialing 8
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SOURCE AMERIGROUP Corporation
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Related medicine news :

1. Dr. Yvonne Sanders-Butler of Atlanta Honored as Healthy Hero By the AMERIGROUP Foundation
2. AMERIGROUP Corporation to Discuss First Quarter Earnings on May 1
3. AMERIGROUP Corporation to Present at the Goldman Sachs Leveraged Finance Healthcare Conference on April 8
4. AMERIGROUP Corporation to Present at the Barclays Capital Global Healthcare Conference on March 10
5. AMERIGROUP Foundation and Union City Board of Education Announce Winners of Word About Health Contest
6. AMERIGROUP Reports Q4 Net Income of $37.3 Million or $0.70 Per Diluted Share
7. AMERIGROUP Corporation Elects Emerson U. Fullwood to Board of Directors
8. AMERIGROUP Names Finley Chief Compliance Officer
9. AMERIGROUP Health Plan in Nevada Begins Serving Medicaid Enrollees
10. AMERIGROUP Corporation to Discuss Fourth Quarter Earnings on February 19
11. Atlanta Educator Kim Bearden Honored as Healthy Hero by AMERIGROUP Foundation
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