Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. Magellan Health Services ( MGLN) reported on February 27, 2009 that its Q4 FY08 net earnings dropped 24.7% on higher care costs and loss of certain contracts. Net income for the quarter decreased to $23.58 million, or $0.61 per share, from $31.30 million, or $0.78 per share. Segmental profit was $55.05 million as compared to $66.23 million in Q4 FY07. The quarterly earnings beat the consensus estimate of $0.55 per share. During Q4 FY08, revenue inched up to $661.78 million from $658.01 million, helped by strong growth across its business segments. Commercial sales fell 16.2% year-over-year to $162.84 million from $194.27 million. Public sector revenue rose 6.4% to $367.12 million from $345.14 million. Radiology benefits management sales inched up to $71.45 million from $69.00 million a year ago. Additionally, specialty pharmaceutical management revenue swelled 21.7% to $60.38 million from $49.60 million in the prior year's quarter. Total cost of care increased 2.2% to $461.79 million, while direct service costs dipped 1.0% to $104.52 million. Meanwhile, stock compensation expense narrowed to $6.41 million from $7.33 million a year ago. During the fourth quarter, MGLN repurchased 4.30 million shares for a total of $151.60 million, completing approximately 76.0% of the approved $200.00 million program authorized by the board. For FY08, net income fell 8.4% to $86.21 million, or $2.16 per share, from $94.16 million, or $2.36 per share, in FY07. Annual revenue surged 21.8% to $2.63 billion from $2.16 billion. Looking ahead to the full year 2009, Magellan Health Services reaffirmed its earnings guidance in the range of $73.40 to $93.70 million on revenue of $2.50 to $2.60 billion. In addition, the company expects segment profit in the range of $190.00 to $210.00 million.