Magellan Health Services Inc. (NASDAQ: MGLN) today reported financial results for the second quarter of 2012, as summarized below. For the quarter ended June 30, 2012, the company reported net revenue of $805.5 million, segment profit of $64.8 million, and net income of $27.0 million or $0.97 per diluted common share. Segment profit represents income from operations before stock compensation expense, depreciation and amortization, interest expense, interest income, gain on sale of assets, special charges or benefits, and income taxes.
|Second Quarter Financial Results at a Glance|
|Three Months Ended June 30||Six Months Ended June 30|
|(Millions, except per share results)||2012||2011||(Decrease)||2012||2011||(Decrease)|
|Earnings per Share||0.97||1.07||(9.3||)%||1.72||2.09||(17.7||)%|
As of June 30, 2012, the company had unrestricted cash and investments of $239.5 million.