PacifiCare Health Systems, Cypress, Calif., said its second-quarter net income rose 22% to $92.6 million, or 96 cents per share, from $76.4 million, or 80 cents per share, in the year-ago quarter. The company agreed this month to be acquired by UnitedHealth Group for $9.2 billion. Excluding charges related to the deal and broader Medicare participation, PacifiCare would have earned $1.04 per share. Revenue rose 18% to $3.58 billion, as total enrollment grew 13% to 3.38 million members. But PacifiCare lowered its full-year commercial membership growth forecast to between 1.5% and 2.5%, from a prior projection of 5% to 6%, citing plans to sell its 27,000-member health plan in Guam. The company reiterated its 2005 earnings forecast of $3.70 per share to $3.85 per share. -- by Laura B. Benko
PacifiCare's profits up 22% on membership growth
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