WellPoint: enrollment, income to fall in 2010
WellPoint says net income will fall in 2010 as economy pressures enrollment
Health insurer WellPoint says it expects net income to fall as much as 11 percent this year as enrollment falls by about 400,000 patients.
The Indianapolis-based company affirmed its previous guidance of at least $6 per share in net income. Analysts polled by Thomson Reuters are looking for $6.11 per share.
Net income is expected to fall 11 percent to $2.6 billion from $2.9 billion last year.
Chief Financial Officer Wayne DeVeydt says WellPoint membership will decline by 400,000 people in 2010 to 33.3 million. The company says an unemployment rate nearing 10 percent will continue putting pressure on the company's businesses in 14 core states.
WellPoint expects operating revenue to decline 3 percent to $59 billion.
Copyright 2010 AP News
