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Kaiser Foundation Health Plan and Hospitals Report Second Quarter 2009 Financial Results
Date:8/7/2009

OAKLAND, Calif., Aug. 7 /PRNewswire/ -- Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their subsidiaries (KFHP/H) reported today a combined total operating revenue of $10.5 billion for the quarter ended June 30, 2009, compared to $10.1 billion in the second quarter of last year. Operating income in the second quarter was $411 million, versus $499 million in the second quarter of last year. Net non-operating income was $209 million in the second quarter, compared to a net non-operating loss of $148 million in the second quarter of last year. As a result, second quarter net income was $620 million, versus $351 million in the second quarter of last year. These represent the combined operating results for Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their subsidiaries.

For the six months ended June 30, 2009, total operating revenue was $21.1 billion, compared to $20.2 billion in the same period last year. Year-to-date operating income was $1.0 billion, which is equivalent to the operating income reported in the same period last year. Net non-operating income was $15 million in the first six months of the year, compared to a net non-operating loss of $443 million in the same period last year. As a result, year-to-date net income was approximately $1.1 billion, versus net income of $601 million in the same period last year.

Total membership declined by nearly 36,000 members and remained at approximately 8.6 million in the first six months of the year. Capital spending totaled approximately $1.1 billion in the year-to-date period, which is comparable to the capital spending reported in the same period last year.

"We are pleased with our performance in this difficult economy, but we remain cautious about the significant challenges that lie ahead. Results for the first six months of the year are historically the strongest, in par
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SOURCE Kaiser Permanente
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