Molina Healthcare announces preliminary results of fourth-quarter ended December 31, 2009

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.