Humana, Louisville, Ky., said net income grew 60% in 2003 to $228.9 million, or $1.41 per share, fueled by moderating cost trends and higher premiums in the fourth quarter. By comparison, the insurer earned $142.8 million, or 85 cents per share, in 2002. Revenue rose 8.6% to $12.2 billion in 2003, and enrollment grew 1.8% to 6.8 million members. In the fourth quarter, Humana reported net income of $66.3 million, or 41 cents per share, compared with a net loss of $1.7 million, or 1 cent per share, in the year-ago period. The 2002 figure reflects $58.2 million in charges. Fourth-quarter revenue rose 10% to $3.2 billion, as the company raised premiums an average of 10% for commercial clients and 8% for government clients. Humana said it expects to earn between $1.60 per share and $1.65 per share in 2004 on revenue of about $13 billion. -- by Laura B. Benko
Humana earnings climb 60% amid good cost trends
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