Oxford Health ( OHP) posted a first-quarter rise in earnings, despite a $45 million settlement charge.

Including the settlement charge, the Trumbull, Conn.-based company earned $72.9 million, or 86 cents a share, compared with $71.4 million, or 78 cents a share, in the prior-year period. The charge, which totaled a pretax $45 million, or 32 cents a share, was to settle shareholder suits related to the company's infamous 1997 earnings shortfall.

First-quarter "run rate earnings" were $1.13 a share, compared with 75 cents a share in 2002, Oxford said. Revenue was $1.35 billion, compared with $1.17 billion in the year-ago quarter.

The company said membership increased by 14,300 members. Total fully insured commercial membership was 1.481 million members, compared with 1.442 million members in the first quarter of 2002.

Shares of Oxford closed at $30.35 Friday on the New York Stock Exchange.

If you liked this article you might like

Hot Topic's Relief Bounce

Hot Topic's Relief Bounce

Limited Brands Profit Jumps

Limited Brands Profit Jumps

Glitch Lingers at Ross Stores

Glitch Lingers at Ross Stores

Dillard's Halves Loss

Dillard's Halves Loss

Do-It-Yourself Boost for Economy

Do-It-Yourself Boost for Economy