CorVel Corporation (Nasdaq: CRVL) today announced earnings per share of $0.56 for the quarter ended December 31, 2010, a 4% increase compared to $0.54 in the same quarter of the prior fiscal year. Earnings per share for the nine months ended December 31, 2010 were $1.82, a 20% increase over the $1.52 earnings per share for the nine months ended December 31, 2009. The Company reported quarterly revenues of $95.3 million, a 10% increase compared to $86.6 million in the same quarter of the prior fiscal year. Revenues for the nine months ended December 31, 2010 were $280.2 million, a 12% increase over the $250.4 million for the nine months ended December 31, 2009.
The revenue growth for the current quarter was led by a 12% growth in its Network Solutions product line and an 8% increase in the Company's Patient Management service line. Network Solutions growth was driven by increased transaction volume in the Company's medical bill review product, as well as increasing growth in the Pharmacy Management and Directed Care product lines. The Patient Management service line includes traditional Case Management services and Claims Management. Claims Management benefited from the implementation of new clients and the Company's continual investment in workflow processing to increase efficiencies while helping clients to control medical and indemnity costs.