Cigna Q4 Profit Down; Sees 2014 Adj. EPS Below View - Quick Facts

(RTTNews) - Cigna Corp. (CI) said that shareholders' net income for the fourth quarter of 2013 was $361 million, or $1.29 per share, down from $406 million, or $1.41 per share in the fourth quarter of 2012.

Fourth quarter 2013 shareholders' net income included a special item which resulted in after-tax losses of $40 million, or $0.15 per share, related to costs associated with an organizational efficiency plan, compared to a special item which resulted in after-tax losses of $68 million, or $0.24 per share, for litigation matters in the fourth quarter of 2012.

Quarterly adjusted income from operations was $387 million, or $1.39 per share, compared to $452 million, or $1.57 per share, for the fourth quarter of 2012.

Premiums and fees for the quarter were $7.284 billion, up from $6.827 billion last year. Analysts polled by Thomson Reuters expected the company to report revenues of $7.37 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter grew to $8.130 billion from last year's $7.609 billion in the year ago quarter.

Cigna's outlook for full year 2014 consolidated adjusted income from operations is in the range of $1.9 billion to $2.0 billion, or $6.80 to $7.20 per share. Cigna's outlook excludes the potential effects of future capital deployment. Street currently is looking for fiscal year 2014 earnings of $7.32 per share.