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AMERIGROUP Reports Q2 Net Income of $49.6 Million or $0.94 per Diluted Share, Including $0.43 per Diluted Share Positive Impact from Tax Adjustment
Date:7/31/2009

  • Selling, general and administrative expenses in the 7.5% - 7.8% range, versus the previous estimate of 8.1% - 8.5%, which reflects further administrative efficiencies leveraged on a higher membership base; and
  • Fully diluted shares outstanding of approximately 52.7 million, versus the previous estimate of approximately 54 million, reflecting year-to-date and anticipated share buyback activity during the remainder of the year. 

    •                                                             2009 Guidance
                                                            --------------
                Earnings per diluted share                   $2.90 - $3.05
                Total revenues                 Approximately $5.15 billion
                Investment income and other    Approximately $32.0 million
                Health benefits ratio                        84.9% - 85.5%
                Selling, general &
                 administrative ratio                          7.5% - 7.8%
                Fully diluted shares
                 outstanding                    Approximately 52.7 million

    Second Quarter Earnings Call

    AMERIGROUP senior management will discuss the Company's second quarter results on a conference call Friday, July 31, 2009 at 8:30 a.m. Eastern Daylight Time (EDT). The conference can be accessed by dialing 866-260-3161 (domestic) or 706-679-7245 (international) approximately ten minutes prior to the start time of the call. A recording of the call may be accessed by dialing 800-642-1687 (domestic) or 706-645-9291 (international) and providing passcode 16913886. The replay will be available shortly after the conclusion of the call until Friday, August 7, at 11:59 p.m. Eastern Time. The conference call will also be available through the investors' page of the Company's web site, '/>"/>

    SOURCE AMERIGROUP Corporation
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