This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Magellan Health Services Provides 2013 Financial Guidance

Magellan Health Services Inc. (NASDAQ: MGLN) today announced that, for 2013, it expects to generate net revenue in the range of $3.56 to $3.74 billion, and net income in the range of $91 million to $109 million, which translates into diluted earnings per share in the range of $3.22 to $3.85 inclusive of share repurchases to date. The company also expects segment profit (which represents income before income taxes, excluding stock compensation expense, depreciation and amortization, interest expense, interest income, gain on the sale of assets, and special charges or benefits) for 2013 to be in the range of $250 million to $270 million.

With regard to Magellan’s share repurchase program, during the period October 26th through December 10th, the company repurchased 336,622 shares for a total cost of $16.8 million. To date, $49.5 million of the $200 million program authorized by our Board of Directors in October 2011 has been completed. As of December 10, 2012, there are approximately 27.4 million shares outstanding.

With respect to 2012, the company confirmed its current guidance for segment profit, net income, EPS and cash flow, which was most recently updated in October.

“Magellan will complete 2012 with solid financial performance, and is well positioned as we enter 2013,” said René Lerer, M.D. “We are pleased with our results across all of our business lines, and the new contracts we won in 2012. In the coming year, we will focus on retention of our current business, particularly in Maricopa County, Arizona, where in partnership with the State we have transformed the behavioral health system over the past five years. We will continue to execute on our growth initiatives, make strategic investments to fuel our success, and maintain a capital strategy which allows us to maximize shareholder return, while retaining sufficient liquidity to pursue strategic options and invest in our future growth.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs