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Coventry Reports Higher 1st Quarter Net Income

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NU Online News Service, April 29, 2003, 3:41 p.m. EDT – Coventry Health Care Inc., Bethesda, Md., is reporting $50 million in net income for the first quarter on $1.1 billion in revenue, up from $28 million in net income on $849 million in revenue for the first quarter of 2002.

The managed care company ended the first quarter providing or administering major medical coverage for 2.1 million people, up from 1.8 million people a year earlier.