NU Online News Service, April 26, 2004, 12:36 p.m. EDT – Humana Inc., Louisville, Ky., is being a little less cautious with its assets.[@@]
The managed care company is reporting $67.8 million in net income for the quarter on $3.3 billion in revenue, up from $31.2 million in net income on $2.9 billion in revenue for the first quarter of 2003.
The company ended the quarter providing or administering coverage for 7 million people, up from 6.6 million people a year earlier. Average commercial premium revenue per insured commercial customer increased 7.5%, to $704.
The balance sheet section of Humana’s latest earnings release shows that the company’s portfolio managers liked cash in early 2003.