Centene Sees 2010 Net In Line With Views - TheStreet

Centene Sees 2010 Net In Line With Views

The managed-care company said it expects fiscal 2010 earnings of $1.90 to $2 a share on premium and service revenue of $4.35 billion to $4.45 billion.
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ST. LOUIS (

TheStreet

) --

Centene

(CNC) - Get Report

, the managed-care company, said it expects fiscal 2010 earnings of $1.90 to $2 a share on premium and service revenue of $4.35 billion to $4.45 billion.

Analysts surveyed by Thomson Reuters estimate Centene will earn $1.99 a share in fiscal 2010 on revenue of $4.54 billion.

Centene said Friday its 2010 forecast takes into account anticipated start-up costs of a new Mississippi contract, pharmacy carve-outs in Indiana and Ohio, and the impact of rate changes this month.

Centene said its fiscal 2010 forecast assumes a consolidated health benefits ratio of about 84% to 86%, reflecting membership mix changes, the drug carve-outs, and the rate environment. It also expects higher than normal costs associated with H1N1 and traditional flu strains.

The health insurer said it reaffirms its 2009 profit forecast made in October of $1.91 to $1.97 a share.

-- Reported by Joseph Woelfel in New York.

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