Molina Healthcare Reports Reduced Q4 Profit
Molina Healthcare reported a decline in fourth-quarter net income to $10.7 million, or 38 cents per share, Reuters/Los Angeles Times reports. Molina reported net income of $16.3 million, or 58 cents per share, in the same quarter last year.
Revenue increased to $423.2 million from $375.4 million, but rising hospital costs offset those gains. Reported earnings included expenses of eight cents per share related to provider disputes and an increase of 10 cents per share related to reduced liability claims.
The Long Beach-based managed-care organization serves Medicaid patients (Reuters/Los Angeles Times, 2/23).