Health Net Q4 Profit Rises - Quick Facts

(RTTNews) - Health Net, Inc. (HNT) reported that its fourth-quarter net income increased to $19.8 million, or $0.25 per share, from $6.0 million, or $0.07 per share, last year. The company's fourth quarter net income included an approximately $0.6 million benefit primarily related to a reduction in a legal settlement reserve.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.29 for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased 3.3 percent to $2.74 billion from $2.84 billion, a year ago. Analysts expected revenue of $2.75 billion for the quarter.

The company expects GAAP earnings per share of at least $3.00 for the full year 2014. The company said the year-over-year increase in earnings per share is based primarily on the expectation of an approximate 30 percent increase in total revenues. Analysts expect the company to report fiscal 2014 earnings per share of $2.33.