DOW JONES NEWSWIRES
Sierra Health Services Inc.'s (NYSE:SIE) (SIE) third-quarter net income fell slightly, hurt by a charge of 4 cents a share from an increase in the estimated loss on its Medicare Prescription Drug, or PDP, product.
The Las Vegas managed healthcare benefit plan provider's earnings decreased to $34.6 million, or 59 cents a share, from $34.9 million, or 56 cents a share, a year earlier, when there were more shares outstanding.
Revenue increased 9.1% to $468.9 million from $430 million a year ago, the company said.
Analysts polled by Thomson Financial, on average, predicted third-quarter earnings of 61 cents a share and revenue of $478.3 million.
Sierra Health cut its 2007 earnings outlook to $1.82 to $1.84 a share. The company had predicted earnings of $2.30 to $2.40 a share, excluding the loss from the PDP product.
Analysts have been predicting earnings of $2.28 a share for the year. Analyst estimates exclude the product offering loss.
-Monica M. Clark; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires 11-05-07 1639 Copyright (c) 2007 Dow Jones & Company, Inc.
