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Magellan Health Services Reports Third Quarter 2012 Financial Results

Magellan Health Services Inc. (NASDAQ: MGLN) today reported financial results for the third quarter of 2012, as summarized below. For the quarter ended September 30, 2012, the company reported net revenue of $798.4 million, segment profit of $69.4 million, and net income of $66.3 million or $2.36 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.

Financial Results

                                                     
      Three Months Ended September 30       Nine Months Ended September 30

(Millions, except per share results)

     

2012

      2011       Increase/

(Decrease)

      2012       2011       Increase/

(Decrease)

Revenue $798.4       $686.8       16.2%       $2,377.1       $2,077.9       14.4%
Segment Profit 69.4 55.5 25.0% 189.6 207.2 (8.5)%
Net Income 66.3 31.4 111.1% 114.0 99.9 14.1%
Earnings per Share 2.36 1.03 129.1% 4.10 3.12 31.4%
 

As of September 30, 2012, the company had unrestricted cash and investments of $277.4 million.

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