WELLPOINT TAKES A HIT AFTER MERGER Q4 NET INCOME DROPS 12%, CLOSE TO ANALYST PREDICTIONS.Byline: Evan Pondel Staff Writer
WellPoint Inc.'s fourth-quarter net income dropped 12 percent, mostly related to costs associated with its $16.5 billion merger with Anthem anthem [ultimately from antiphon], short nonliturgical choral composition used in Protestant services, usually accompanied and having an English text. The term is used in a broader sense for "national anthems" and for the Latin motets still used occasionally in that created the largest health care company in the nation.
Now based in Indianapolis, WellPoint on Monday reported fourth-quarter net income of $184.5 million, or 92 cents a share, compared with net income of $208.8 million, or $1.47 a share, in the same period a year ago. The results beat the company's expectations by two cents.
Revenue rose to $6.2 billion from $3.9 billion recorded a year earlier. Analysts were not surprised by the results, acknowledging the billions of dollars that brought Anthem Inc. and WellPoint Health Networks together last November.
``They reported a solid as expected quarter,'' said Thomas Carroll Thomas Carroll may refer to:
For the full year of 2004, the company reported net income of $960 million, or $6.10 a share, on revenue of $20.8 million, versus $774 million, or $5.45 a share, on revenue of $16.8 billion in 2003.
WellPoint forecasts earnings of $7.75 a share in 2005, leaning toward the high end of previous expectations of between $7.65 and $7.75 a share.
``The big data point for the company will be the first and second quarters,'' said Carroll Car·roll , James 1854-1907.
British-born American physician noted for his research on yellow fever. In 1900 he deliberately infected himself with the disease for experimental purposes. , who also noted that WellPoint picks up about one- third of its business during the first quarter.
The newly combined company is still integrating its operations, with plans to bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation).
A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz its product line later this year. ``We fully expect to ... achieve an even greater sustainable competitive advantage,'' Larry Glasscock, president and chief executive officer, said in a statement.
Anthem Inc. bought Thousand Oaks-based WellPoint Health Networks in November after a year of regulatory hurdles. The combined company now provides health care benefits to 27.7 million individuals.
Adam Miller Adam Wain Miller (born November 26, 1984, in Plano, Texas), is a right handed pitcher who is currently a top prospect in the Cleveland Indians organization. He started the 2006 season as a starting pitcher with the Double A Akron Aeros. , analyst with Williams Capital Group in Maryland, said Wisconsin remains a challenge for the company as it decides how to tackle the state competitively. ``I expect these guys to continue to march along and we'll see if they can deliver on their synergies,'' he said.
Shares of WellPoint declined $4.04, or 3.2 percent, to close at $120.85 Monday on the New York Stock Exchange New York Stock Exchange (NYSE)
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Evan Pondel, (818) 713-3662