WellPoint, Inc. (NYSE: WLP) today announced that fourth quarter 2013 net income was $148.2 million, or $0.49 per share. These results included net costs of approximately $0.38 per share, reflecting an impairment charge related to the pending 1-800 CONTACTS transaction, partially offset by net investment gains. Net income in the fourth quarter of 2012 was $464.2 million, or $1.51 per share, and included net income of $0.48 per share, reflecting a favorable income tax settlement and net investment gains, partially offset by acquisition-related costs.
Excluding the items noted in each period, adjusted net income was $0.87 per share in the fourth quarter of 2013, a decrease of 15.5 percent compared with adjusted net income of $1.03 per share in the prior year quarter (refer to GAAP Reconciliation table for a reconciliation to the most directly comparable measure calculated in accordance with U.S. generally accepted accounting principles, or “GAAP”).
Full year 2013 net income totaled approximately $2.5 billion, or $8.20 per share, including net costs of $0.32 per share from certain items. Full year 2012 net income was approximately $2.7 billion, or $8.18 per share, including net income of $0.62 per share from certain items. Excluding the items noted in each period, adjusted net income was $8.52 per share for the full year of 2013, an increase of 12.7 percent from $7.56 per share in 2012 (refer to GAAP Reconciliation table).
“We are pleased with our performance in 2013, which came in stronger than we expected even as we prepared for the implementation of the Affordable Care Act. We are encouraged by the trajectory of our membership, as we grew sequentially during the fourth quarter and expect to add over a million new customers in 2014. Our associates continue to work diligently to assist members during this dynamic period, and we are optimistic about the opportunity we have to serve a growing part of the marketplace,” said Joseph Swedish, chief executive officer.
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