AMERIGROUP Reports Q3 Net Income of $22.5 Million or $0.43 per Dil...( Weighted average ...),Health

Date:10/30/2009

= ===== ====== Weighted average number of common shares and dilutive potential common shares outstanding 51,920,745 53,494,690 52,754,511 52,914,156[2] ========== ========== ========== ============ [1] 2008 results reflect the previously disclosed reclassification of premium taxes and experience rebate. Additionally, results include the impact from the adoption of a new accounting pronouncement related to convertible debt instruments which increased interest expense in each of the periods presented. [2] Weighted shares in the nine months ended September 30, 2008 exclude potentially dilutive common stock equivalents due to the net loss in that period in accordance with generally accepted accounting principles. The following table sets forth selected operating ratios. All ratios, with the exception of the health benefits ratio, are shown as a percentage of total revenues. Three months Nine months ended ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Premium revenue 99.6% 98.4% 99.4% 98.2% Investment income and other 0.4 1.6 0.6 1.8 --- --- --- --- Total revenues 100.0% 100.0% 100.0% 100.0% ===== ===== ===== ===== Health benefits [1] 87.5% 82.0% 85.7% 82.8% Selling, general and administrative expenses 6.3% 10.2%
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