Molina Healthcare Reports Fourth Quarter And Year-End 2012 Results

The table entitled “Unaudited Change in Medical Claims and Benefits Payable” on page 15 of the press release presented incorrect amounts in the columns entitled “Three Months Ended December 31, 2012,” and “Year Ended December 31, 2012.” Such incorrect amounts were contained in the rows entitled “Payments for medical care costs related to: Current period,” and “Payments for medical care costs related to: Prior period,” and were due to an inadvertent reversal of signs in the computation. No subtotals or totals in the table were incorrect. As amended, “Payments for medical care costs related to: Current period” for the three months ended December 31, 2012 has been corrected to read $906,108; “Payments for medical care costs related to: Prior period” for the three months ended December 31, 2012 has been corrected to read $409,449; “Payments for medical care costs related to: Current period” for the year ended December 31, 2012 has been corrected to read $4,649,363; and “Payments for medical care costs related to: Prior period” for the year ended December 31, 2012 has been corrected to read $355,343.

The corrected release reads:

MOLINA HEALTHCARE REPORTS FOURTH QUARTER AND YEAR-END 2012 RESULTS

Molina Healthcare, Inc. (NYSE: MOH):
  • Quarterly earnings per diluted share of $0.54
  • Full year earnings per diluted share of $0.21
  • Annual revenue of $6 billion, up 26% over 2011
  • Aggregate membership up 6% over 2011
  • Earnings per diluted share guidance of $1.55 for fiscal year 2013

Molina Healthcare, Inc. (NYSE: MOH) today reported its financial results for the fourth quarter and year ended December 31, 2012.

Net income for the quarter was $25.6 million, or $0.54 per diluted share, compared with a net loss of $33.0 million, or $0.72 per diluted share, for the quarter ended December 31, 2011. Net income for the year ended December 31, 2012, was $9.8 million, or $0.21 per diluted share, compared with net income of $20.8 million, or $0.45 per diluted share, for the year ended December 31, 2011. Results for the quarter and year ended December 31, 2011, were affected by an impairment charge of $64.6 million related to the Company’s Missouri health plan.

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