CorVel Announces Record Earnings( IRVINE Calif. June 10 /- CorVel C...),Health

IRVINE, Calif., June 10 /PRNewswire-FirstCall/ -- CorVel Corporation (Nasdaq: CRVL) reported record earnings per share of $0.44 for the quarter ended March 31, 2008, up from $0.37 in the same quarter of the prior year. For the fiscal year ended March 31, 2008 earnings were $1.67 per share compared to fiscal 2007 earnings of $1.30 per share. Results in the quarter reflected continued strong medical review results.

The Company reported quarterly revenues of $77 million, up from prior year quarterly revenues of $71 million. For the fiscal year ended March 31, 2008, revenues were $302 million, representing a 10% increase from the $275 million in revenues achieved in fiscal 2007. The Company's introduction of full service workers compensation solutions contributed significantly to the improvement in annual sales and profit results.

CorVel's launch of full service claims solutions, branded Enterprise Comp(R), has reached a phase where national services are available throughout the Company's nationwide branch office network. In addition, the Company has added claims management for auto and general liability claims. Recent efforts have been focused upon continued claims management additions to the Company's CareMC web portal. Enterprise Comp's ability to integrate managed care and claims management services is expected to deliver unique savings results for employers.

Investments in the Company's systems and software infrastructure have been increased to support the national expansion of Enterprise Comp. During the coming year the Company expects to continue expanding the use of the artificial intelligence tools which have contributed successfully to the Company's medical review services.

About CorVel

CorVel Corp
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