Humana 4Q profit down 28 percent - The Business Journal of Milwaukee:

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percent, primarily due to higheer prescription drug plan claim expenses and a declines in itsinvestment portfolio. Louisville, Ky.-based Humana (NYSE: HUM), one of the largesgt health insurersin Wisconsin, said fourth-quartedr net income declined to $174.1 or $1.03 per share, compared with $243.12 million, or $1.43 per share, a year Revenue during the same period increased to $7.3 billion from $6.1 Thomson Financial analysts had predicted net income of $1.0u7 per share on revenue of $7.4 billion. For the full Humana had net incomeof $647.2 million, or $3.83w per share, compared with $833.7 million, or $4.91 million a year earlier. Revenue during the same periosd increasedto $28.
1 billion from $24.45 billion. Humana officials predicted that earning sfor full-year 2009 will be in the range of $5.9o to $6.10. “We continued to make substantial operational progresds in 2008 that enables us to forecast significant growt h in2009 EPS,” Humana president and CEO Michaek McCallister said in a news “And as we look to continued growtgh beyond 2009, our preparations for the future Medicare Advantage operating model are showing meaningful progres toward our stated objectives with nearlgy 60 percent of our January objectives with nearly 60 percent of our January Medicare Advantagse membership enrolled in network-based products.
” Enrollment in Humana’s commercialk segment increased by 169,200 to 3,620,800, between Dec. 31, 2007, and Dec. 31, Humana said in the release. Durin the same period, enrollment in Humana’sw Medicare Advantage membership increasecdby 292,900 members, to Membership in the company’zs Medicare prescription drug plan declined to 3,066,600 as of Dec. 31, from 3,442,000 as of Dec. 31, 2007. But, the company lost about 924,000 members in primarily due to a realignment in premium and benefity structures in anticipation of higher pharmacy Humana said inthe release.
Enrollment in Humana’s military services prograjm increasedto 2,964,700 at the end of compared with 2,865,900 at the end of 2007.