Magellan Health Services Reports Fourth Quarter And Full Year 2012 Financial Results

Magellan Health Services Inc. (NASDAQ: MGLN) today reported financial results for the fourth quarter and full year 2012, as summarized below. For the year ended December 31, 2012, the company reported net revenue of $3,207.4 million, segment profit of $267.4 million, and net income of $151.0 million or $5.42 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
    Three Months Ended December 31   Year Ended December 31
    Increase/ Increase/
(Millions, except per share results)   2012   2011   (Decrease)   2012   2011   (Decrease)
Revenue $830.3 $721.5 15.1% $3,207.4 $2,799.4 14.6%
Segment Profit 77.7 63.2 22.9% 267.4 270.4 (1.1)%
Net Income 37.0 29.7 24.6% 151.0 129.6 16.5%
Earnings per Share 1.32 1.05 25.7% 5.42 4.17 30.0%

As of December 31, 2012, the company had unrestricted cash and investments of $302.3 million.

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