-- Strong performance in Commercial and Consumer Business drives
year-over-year earnings growth -- Selling, general and administrative expense ratio continues to improve,
declining by 90 basis points from the prior year quarter -- Company repurchased 30.1 million shares of its common stock during the
third quarter for $2.4 billion
INDIANAPOLIS, Oct. 24 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP) today announced that third quarter 2007 net income was $868.0 million, or $1.45 per share, which included $0.01 per share in net realized investment gains. Net income in the third quarter of 2006 was $810.8 million, or $1.29 per share, which included $0.04 per share in tax benefits due to a change in the Company's state tax apportionment factors, and net realized investment gains of $0.01 per share.
"We are pleased with our financial results for the third quarter and they reinforce the confidence we have in our future outlook. Our commercial health business performed particularly well during the quarter, and with more than 700,000 new members having joined WellPoint so far this year, we are now delivering more products and services to the marketplace than ever before," said Angela F. Braly, president and chief executive officer of WellPoint, Inc. "Importantly, we are continuing to find ways to operate more efficiently and reduce administrative costs as a percentage of revenue while providing superior service to our members."
"In 2008, we expect continued strong enrollment gains in National
Accounts to be accompanied by new membership from our Medicaid contract
awards in South Carolina and Indiana, and additional growth in our other
commercial and senior businesses. Customers recognize the excellent value
proposition we bring to the marketplace, and we expect to add more than
1,000,000 members in 2008. While we will release our detailed 2008
financial guidance in December, we
|SOURCE WellPoint, Inc.|
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