Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

Oxford Health Puts Earnings At $1.24

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 22, 11:25 a.m. – Oxford Health Plans, Inc., Trumbull, Conn., says that it expects net income of approximately $0.26 per diluted share for the third quarter, down from $0.85 for the same period last year.

The company says its earnings will include a charge of $151.3 million, or $0.98 per diluted share after tax, from a securities class-action lawsuit brought in 1997 following a sharp fall in the price of the company’s stock.

Excluding the effect of the litigation charge, net income for the quarter would be $1.24 per diluted common share, the company estimates.

Expected third quarter earnings for 2002 also include the benefit of approximately $0.20 per share from changes in estimates of prior period reserves for medical claims and New York market stabilization pools for 1999 and 2001, the company says.

Oxford says it expects to report cash flow from operations of over $115 million for the quarter.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.