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Cigna Corp. Message Board

  • bluecheese4u bluecheese4u Nov 1, 2012 8:29 AM Flag

    CIGNA REPORTS STRONG THIRD QUARTER RESULTS AND RAISES 2012 OUTLOOK

    CIGNA REPORTS STRONG THIRD QUARTER RESULTS AND RAISES 2012 OUTLOOK

    o Consolidated revenues increased 31% to $7.4 billion in the third quarter of 2012.
    o Adjusted income from operations1,2 was $496 million, or $1.71 per share, excluding the aftertax
    loss of $7 million, or $0.02 per share, from results of the Run-off Guaranteed Minimum
    Death Benefits (VADBe)2 business. Shareholders’ net income1 was $466 million, or $1.61 per
    share.
    o Cigna's medical customer base grew by 1.25 million people through the first nine months of
    2012.
    o The Company now estimates full year 2012 earnings, on an adjusted income from operations1,3
    basis, to be in the range of $1.655 billion to $1.705 billion, or $5.70 to $5.90 per share.

    BLOOMFIELD, CT, November 1, 2012 – Cigna Corporation (NYSE: CI) today reported third quarter 2012
    consolidated revenues of $7.4 billion, an increase of 31% over the third quarter of 2011. Revenues reflect growth in
    premiums and fees of 51% in Health Care, 22% in International and 9% in Disability and Life, primarily driven by
    contributions from the HealthSpring acquisition and continued organic growth in our targeted customer segments.
    Cigna’s adjusted income from operations1,2 for the third quarter of 2012 was $496 million, or $1.71 per share,
    excluding the after-tax loss of $7 million, or $0.02 per share, from results of the VADBe2 business. This result
    compares with $353 million, or $1.29 per share, excluding the after-tax loss of $45 million, or $0.16 per share, from
    results of the VADBe2 business, for the third quarter of 2011.
    Cigna reported shareholders’ net income1 of $466 million, or $1.61 per share, for the third quarter of 2012,
    compared with shareholders’ net income1 of $183 million, or $0.67 per share, for the third quarter of 2011.
    Shareholders’ net income1 included income of $0.11 per share in the third quarter of 2012 and a loss of $0.50 per
    share for the same period last year related to the Guaranteed Minimum Income Benefits (GMIB)2,5 business.
    Shareholders’ net income1 also included special items4 which generated a loss of $62 million, or $0.21 per share, in
    the third quarter of 2012.
    “Our differentiated approach to understanding and helping our global clients and customers as well as
    partnering with physicians continues to deliver real value. Our third quarter 2012 results were strong, driven by
    consistent and disciplined execution of our strategy," said David M. Cordani, President and Chief Executive
    Officer. “We continue to make strategic investments to position Cigna to deliver long-term value for the benefit
    of our customers and shareholders."

    cigna

 
CI
94.53+0.05(+0.05%)Aug 28 4:00 PMEDT

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