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AmeriGroup Reports Higher 1st Quarter Net Income

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NU Online News Service, April 29, 2003, 11:17 a.m. EDT – AmeriGroup Corp., Virginia Beach, Va., is reporting $14 million in net income for the first quarter on $391 million in revenue, up from $9.9 million in net income on $273 million in revenue for the first quarter of 2002.

AmeriGroup manages Medicaid plans and other government-sponsored health plans. It ended the quarter administering medical coverage for 799,000 people, up from 510,000 people a year earlier.