Magellan Health Services Reports Second Quarter 2012 Financial Results

Magellan Health Services Inc. (NASDAQ: MGLN) today reported financial results for the second quarter of 2012, as summarized below. For the quarter ended June 30, 2012, the company reported net revenue of $805.5 million, segment profit of $64.8 million, and net income of $27.0 million or $0.97 per diluted common share. Segment profit represents income from operations before stock compensation expense, depreciation and amortization, interest expense, interest income, gain on sale of assets, special charges or benefits, and income taxes.

Financial Results
Second Quarter Financial Results at a Glance                    
  Three Months Ended June 30   Six Months Ended June 30
    Increase/       Increase/
(Millions, except per share results)   2012   2011   (Decrease)   2012   2011   (Decrease)
Revenue $805.5 $698.3 15.4 % $1,578.7 $1,391.1 13.5 %
Segment Profit 64.8 75.9 (14.6 )% 120.2 151.7 (20.8 )%
Net Income 27.0 34.2 (21.1 )% 47.8 68.5 (30.2 )%
Earnings per Share 0.97 1.07 (9.3 )% 1.72 2.09 (17.7 )%
 

As of June 30, 2012, the company had unrestricted cash and investments of $239.5 million.

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