Published on January 12, 2010 at 12:14 AM
Molina Healthcare, Inc. (NYSE: MOH) announced today that, based on its
preliminary unaudited analysis, it expects to report a loss per diluted
share for the fourth quarter of 2009 in the range of $0.10 to $0.25, and
earnings for the year ended December 31, 2009, in the range of $1.12 to
$1.26. Additional detail regarding the Company’s preliminary unaudited
results is provided in the tables below.
In commenting on the preliminary results, J. Mario Molina, M.D.,
president and chief executive officer of Molina Healthcare, said, “In
our third quarter earnings report in October, we talked about the
several factors – including the H1N1 flu, higher utilization associated
with new members, and state budget shortfalls – which were the basis for
our withdrawing our earnings and medical cost guidance for the remainder
of 2009. These same factors continued to exert significant downward
pressure on our earnings in the fourth quarter. Of these factors, costs
associated with the H1N1 flu were the single greatest contributor to our
loss in the quarter.”
The Company is currently in the process of finalizing its results for
the fourth quarter and full year 2009. There can be no assurance that
the Company’s final audited results for the fourth quarter and for
fiscal year 2009 will be as specified in this release. The estimated
results for fourth quarter and full year 2009 included in this release
constitute forward-looking statements and are subject to the risk that
final audited results may vary.
The Company plans to announce its complete results for the fourth
quarter and full year 2009 on February 11, 2010. In addition, the
Company will give a presentation and webcast regarding its corporate
strategy and business outlook at its Investor Day Conference on January
27, 2010, at the Le Parker Meridien Hotel in New York City from 12:00
noon to 4:00 p.m. Eastern Time. Additional information regarding the
Company’s earnings call and Investor Day Conference will be forthcoming.
http://www.molinahealthcare.com/