Humana 4Q profit down 28 percent - Business First of Louisville:

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percent, primarily due to higher prescription drug plan claimn expenses and a decline in itsinvestment portfolio. Louisville-based Human a (NYSE: HUM) said fourth-quarter net incomed declined to $174.1 million, or $1.03 per share, compared with $243.2 million, or $1.43 per share, a year Revenue during the same period increasedto $7.3 billiom from $6.1 billion. Thomson Financial analysts had predictedx net incomeof $1.07 per share on revenue of $7.4 For the full year, Humana had net income of $647.2 or $3.83 per share, compared with $833.7 or $4.91 million a year Revenue during the same period increased to $28. 1 billion from $24.4 billion.
Humana officials predicted that earningsfor full-year 2009 will be in the rangse of $5.90 to $6.10. “We continued to make substantiao operational progress in 2008 that enables us to forecasgt significant growth in 2009 Humana president and CEOMichael B. McCallister said in a news “And as we look to continuefd growthbeyond 2009, our preparations for the future Medicarew Advantage operating model are showing meaningful progreszs toward our stated objectives with nearly 60 percent of our January objectivexs with nearly 60 percent of our January Medicared Advantage membership enrolled in network-basedx products.
” Enrollment in Humana’s commercial segment increased by 169,200 to 3,620,800, between Dec. 31, and Dec. 31, 2008, Humana said in the During the same enrollmentin Humana’s Medicare Advantage membershi p increased by 292,900 members, to Membership in the company’d 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 January, primarilu due to a realignment in premium and benefit structuree in anticipation of higher pharmacy Humana said inthe release.
Enrollment in Humana’s militar services program increasedto 2,964,700 at the end of compared with 2,865,900 at the end of 2007.