WellPoint Profit Falls, Enrollment Dips 4.2%

Updated from 6:23 a.m. EDT

INDIANAPOLIS (TheStreet) -- WellPoint(WLP Quote), the nation's largest insurer in terms of enrollment, reported third-quarter earnings of $730.2 million, or $1.53 a share, including net investment gains of 3 cents and a 28-cent impairment charge, as medical enrollment fell 4.2% to 33.9 million members.

Commercial enrollment fell by 985,000, or 3.5%, the company said Wednesday.

Operating revenue in the quarter was $15.2 billion, a slight decrease from $15.3 billion a year earlier.

Analysts surveyed by Thomson Reuters expected WellPoint to earn $1.37 a share on revenue of $15.15 billion.

Third-quarter earnings a year ago were $820.7 million, or $1.60 share, including net investment losses, an impairment charge of 17 cents and income tax benefits of 90 cents a share.

The company said full-year 2009 net income is now expected to be in the range of $5.06 to $5.12 a share, including net investment losses of 52 cents and an impairment charge of 28 cents. It had previously expected earnings of $5.60 to $5.66 a share.

Analysts currently expect WellPoint to earn $5.67 a share for the year.

-- Reported by Joseph Woelfel in New York .

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