UnitedHealth Group reported first quarter 2009 financial results. Revenues increased 8% year-over-year to $22 billion. Earnings from operations were $1.67 billion. Net earnings were $984 million, stable compared to the prior year. The operating margin decreased to 7.6% due to reduced investment income and a change in business mix toward lower margin government business. UnitedHealth continues to project full year 2009 net earnings between $2.90 to $3.15 per share.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its first quarter 2008 financial results. Key highlights include:
- Revenues increased 7% to $20.3 billion compared to the prior year.
- Net earnings per share increased 5% to $0.78 compared to the prior year.
- The company served 73 million people, an increase of 2 million from the prior year.
- Full year 2008 net earnings are projected to be in the range of $3.55 to $3.60 per share.
- CC Media Holdings reported financial results for Q4 2008 and full year 2008. Revenue declined 14% to $1.6 billion in Q4 2008 and 3% to $6.7 billion for the full year.
- The company recognized a non-cash impairment charge of $5.3 billion in Q4 2008, consisting of $1.7 billion for FCC licenses and permits and $3.6 billion for goodwill.
- OIBDAN (operating income before depreciation and amortization) declined 50% to $309 million in Q4 2008 and 21% to $1.8 billion for the full year, as revenues declined across most divisions and markets due to weak advertising spending
United Health Group [PDF Document] Form 8-K Related to Preliminary Earnings R...finance3
This document is a SEC 8-K filing by UnitedHealth Group announcing their second quarter 2007 results. Some key highlights include revenues of $18.93 billion, operating earnings of $2.03 billion resulting in an operating margin of 10.7%, and net earnings of $1.197 billion or $0.87 per share, a 24% increase over the prior year. Health Care Services revenues were $16.98 billion with operating earnings of $1.57 billion and an operating margin of 9.2%, and Uniprise revenues were $1.41 billion with operating earnings of $201 million and an operating margin of 14.3%.
This document is an 8-K filing by United Community Financial Corp. announcing its financial results for the second quarter of 2009. Key details include:
- The company reported a net loss of $2.9 million compared to net income of $3.3 million last quarter and $2.7 million the prior year quarter.
- Nonperforming assets decreased by $860,000 from the previous quarter to $135.1 million.
- The provision for loan losses was $12.3 million for the quarter compared to $8.4 million last quarter.
- Net interest margin increased to 3.12% from 3.04% last quarter.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its third quarter 2007 results. Key highlights included:
- Net earnings of $0.95 per share, up 19% year-over-year.
- Operating margin expanded 110 basis points to 11.5%.
- Consolidated medical care ratio improved to 79.5%.
- Adjusted operating cash flows grew 14% to $2.1 billion.
- Company expects 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
- Cubist Pharmaceuticals reported a 37% increase in total net revenues to $121.1 million for the first quarter of 2009 compared to $88.3 million for the same period in 2008.
- Net income on a GAAP basis was $7.8 million, or $0.14 and $0.13 per basic and diluted share respectively, compared to $9.7 million, or $0.17 per basic and diluted share for Q1 2008.
- Non-GAAP net income was $27.2 million, or $0.47 and $0.42 per basic and diluted share respectively, an increase of $9.0 million over the same period last year
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group reporting their financial results for the fourth quarter and full year of 2004. Some key highlights include:
- Fourth quarter revenues of $10.51 billion, up 40% year-over-year. Full year revenues of $37.22 billion, up 29%.
- Fourth quarter earnings from operations of $1.19 billion, up 47% year-over-year. Full year earnings from operations of $4.10 billion, up 40%.
- Fourth quarter earnings per share of $1.09, up 31% year-over-year. Full year earnings per share of $3.94, up 33%.
- Cash flows from operations for the
The document is a press release from Glacier Bancorp, Inc. announcing financial results for the quarter ended September 30, 2009. Some key details:
- Net loss of $1.531 million for the quarter, compared to net income of $12.785 million in Q3 2008.
- Provision for loan losses increased to $47 million for the quarter and allowance for loan losses is at 3.10% of loans.
- Total assets increased 3% from December 31, 2008 to $5.698 billion at September 30, 2009.
- Non-interest bearing deposits increased 7% since December 31, 2008 and interest bearing deposits increased 12%.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its first quarter 2008 financial results. Key highlights include:
- Revenues increased 7% to $20.3 billion compared to the prior year.
- Net earnings per share increased 5% to $0.78 compared to the prior year.
- The company served 73 million people, an increase of 2 million from the prior year.
- Full year 2008 net earnings are projected to be in the range of $3.55 to $3.60 per share.
- CC Media Holdings reported financial results for Q4 2008 and full year 2008. Revenue declined 14% to $1.6 billion in Q4 2008 and 3% to $6.7 billion for the full year.
- The company recognized a non-cash impairment charge of $5.3 billion in Q4 2008, consisting of $1.7 billion for FCC licenses and permits and $3.6 billion for goodwill.
- OIBDAN (operating income before depreciation and amortization) declined 50% to $309 million in Q4 2008 and 21% to $1.8 billion for the full year, as revenues declined across most divisions and markets due to weak advertising spending
United Health Group [PDF Document] Form 8-K Related to Preliminary Earnings R...finance3
This document is a SEC 8-K filing by UnitedHealth Group announcing their second quarter 2007 results. Some key highlights include revenues of $18.93 billion, operating earnings of $2.03 billion resulting in an operating margin of 10.7%, and net earnings of $1.197 billion or $0.87 per share, a 24% increase over the prior year. Health Care Services revenues were $16.98 billion with operating earnings of $1.57 billion and an operating margin of 9.2%, and Uniprise revenues were $1.41 billion with operating earnings of $201 million and an operating margin of 14.3%.
This document is an 8-K filing by United Community Financial Corp. announcing its financial results for the second quarter of 2009. Key details include:
- The company reported a net loss of $2.9 million compared to net income of $3.3 million last quarter and $2.7 million the prior year quarter.
- Nonperforming assets decreased by $860,000 from the previous quarter to $135.1 million.
- The provision for loan losses was $12.3 million for the quarter compared to $8.4 million last quarter.
- Net interest margin increased to 3.12% from 3.04% last quarter.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its third quarter 2007 results. Key highlights included:
- Net earnings of $0.95 per share, up 19% year-over-year.
- Operating margin expanded 110 basis points to 11.5%.
- Consolidated medical care ratio improved to 79.5%.
- Adjusted operating cash flows grew 14% to $2.1 billion.
- Company expects 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
- Cubist Pharmaceuticals reported a 37% increase in total net revenues to $121.1 million for the first quarter of 2009 compared to $88.3 million for the same period in 2008.
- Net income on a GAAP basis was $7.8 million, or $0.14 and $0.13 per basic and diluted share respectively, compared to $9.7 million, or $0.17 per basic and diluted share for Q1 2008.
- Non-GAAP net income was $27.2 million, or $0.47 and $0.42 per basic and diluted share respectively, an increase of $9.0 million over the same period last year
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group reporting their financial results for the fourth quarter and full year of 2004. Some key highlights include:
- Fourth quarter revenues of $10.51 billion, up 40% year-over-year. Full year revenues of $37.22 billion, up 29%.
- Fourth quarter earnings from operations of $1.19 billion, up 47% year-over-year. Full year earnings from operations of $4.10 billion, up 40%.
- Fourth quarter earnings per share of $1.09, up 31% year-over-year. Full year earnings per share of $3.94, up 33%.
- Cash flows from operations for the
The document is a press release from Glacier Bancorp, Inc. announcing financial results for the quarter ended September 30, 2009. Some key details:
- Net loss of $1.531 million for the quarter, compared to net income of $12.785 million in Q3 2008.
- Provision for loan losses increased to $47 million for the quarter and allowance for loan losses is at 3.10% of loans.
- Total assets increased 3% from December 31, 2008 to $5.698 billion at September 30, 2009.
- Non-interest bearing deposits increased 7% since December 31, 2008 and interest bearing deposits increased 12%.
First Commonwealth Financial Corporation reported financial results for the first quarter of 2009. Core net income decreased 25.1% from the first quarter of 2008 to $8.1 million due to an increase in provisions for credit losses and higher expenses, partly offset by higher net interest income and lower taxes. Net charge-offs increased to $19.5 million in the first quarter. Non-performing loans decreased $26.9 million. First Commonwealth recognized $9.9 million in impairment losses relating to trust preferred securities and bank equity securities.
Dime Community Bancshares reported earnings for the quarter ended March 31, 2009. Net income was $2.9 million, or $0.09 per diluted share, compared to $5.3 million, or $0.16 per diluted share, in the previous quarter. Earnings were impacted by $5 million in OTTI charges on securities and $4.1 million in loan loss provisions and credit costs. Excluding these items, earnings per share would have been $0.21, in line with previous guidance. Non-performing loans remained low at 0.40% of total loans and core deposits grew 10% from the previous year.
Home BancShares reported second quarter 2009 net income of $5.4 million, or $0.24 per share. Excluding one-time charges, core earnings were $6.7 million or $0.30 per share. Net interest income increased 4.5% year-over-year due to improved margins. Non-interest income also rose due to growth in mortgage lending. However, non-performing loans increased, particularly in Florida, and the company accrued $1.2 million for an upcoming FDIC special assessment. During the quarter, Home BancShares consolidated its six bank charters into a single charter under the name Centennial Bank.
1) Sandy Spring Bancorp reported net income of $1.0 million for Q1 2009, down from $8.2 million in Q1 2008.
2) The provision for loan and lease losses was $10.6 million for Q1 2009 due to risk rating downgrades and specific reserves for residential real estate development loans.
3) Noninterest expenses decreased 2% from Q1 2008 and customer funding sources increased 8% from both Q1 and Q4 2008 due to growth in money market accounts.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group that reports their financial results for the first quarter of 2007. Some key highlights include revenues of $19.05 billion, earnings from operations of $1.58 billion, and a reported operating margin of 8.3%. Net earnings per share were $0.66 or $0.74 excluding one-time charges. The filing also provides segment-level financial results for the Health Care Services segment, which achieved revenues of $17.09 billion and earnings from operations of $1.30 billion.
This document is an 8-K filing by First State Bancorporation reporting their financial results for the first quarter of 2009. It summarizes that they had a net loss of $24.4 million compared to net income of $3.9 million in the same period in 2008, largely due to increased provision for loan losses. Core deposits increased by $158.9 million while loans decreased by $50.5 million. They also signed an agreement to sell their Colorado branches which will boost capital ratios.
This document is an 8-K filing by Lakeland Financial Corporation announcing its earnings for the first quarter of 2009. Net income was $3.9 million compared to $5.2 million for the same period in 2008. The company also maintained its quarterly dividend of $0.155 per share. Average total loans increased 18% year-over-year and net interest income grew 17% driven by loan growth. However, provisions for loan losses also increased due to higher charge-offs and economic conditions. Non-interest income declined due to mortgage servicing impairment, while non-interest expense rose 11% primarily from increased regulatory and legal expenses.
- DST Systems reported financial results for the first quarter of 2009 with consolidated net income of $73.2 million compared to $72.2 million in the first quarter of 2008.
- Operating revenues decreased $35.2 million compared to the first quarter of 2008 primarily from declines in the Financial Services and Output Solutions segments.
- Mutual fund accounts serviced decreased by 2.7 million accounts compared to the end of 2008 due to account closures and conversions to non-DST platforms.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
This document is Visteon Corporation's annual report (Form 10-K/A) filed with the SEC, which provides an amendment and restatement of Visteon's annual report for the year ended December 31, 2003. The restatement is primarily due to corrections made for retiree healthcare benefits, tooling costs, volume rebates, inventory costs, pension expenses, and tax adjustments. The restatement increased Visteon's reported net loss for 2003 by approximately $80 million. The annual report provides an overview of Visteon's business, including information on its automotive operations and glass operations segments, and discusses trends in the automotive parts industry.
The document summarizes key points from the January FOMC meeting and provides an economic calendar and predictions for the coming week:
1) The FOMC statement was very dovish, extending the period before expected rate hikes to late 2014 or later and emphasizing that projections should be discounted compared to the policy guidance.
2) The FOMC has quietly raised its inflation target and changed the weights in its Taylor rule to accept more inflation volatility in support of broader economic goals like lending and housing.
3) Taken together, the FOMC actions suggest an even later first rate hike, higher odds of additional QE focused on mortgage-backed securities, and a more accommodative monetary policy to support the economy.
The document is a Form 8-K filed by CC Media Holdings, Inc. with the SEC reporting second quarter 2008 financial results. It summarizes that CC Media Holdings reported a 2% increase in revenue to $1.83 billion for Q2 2008 compared to Q2 2007. Operating expenses increased 6% to $1.19 billion, and income before discontinued operations increased 28% to $277.3 million. CC Media Holdings also provided updates on its acquisition of Clear Channel which closed on July 30, 2008, the divestiture of non-core radio stations, revenue and expenses by division, and non-cash compensation expense.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
CSC reported strong revenue growth and financial results for the second quarter of fiscal year 2004. Revenue increased 32% to $3.59 billion compared to the same period last year, driven by growth in the federal government sector from the DynCorp acquisition. Net income was $108.1 million. For the third quarter, CSC expects revenue in the range of $3.6 billion and earnings per share between $0.68 to $0.70. CSC also highlighted major new contracts signed during the quarter with customers such as Providian Financial and the U.S. Air Force.
MetroCorp Bancshares Inc. filed an 8-K report announcing its financial results for the first quarter of 2009. The company reported a net loss of $2.0 million compared to net income of $2.2 million in the first quarter of 2008. The provision for loan losses increased to $7.3 million due to higher net charge-offs. Nonperforming assets also increased impacting interest income and the net interest margin, which declined to 3.44% from 4.09% a year earlier. Expenses declined due to lower salaries from staff reductions, however noninterest income declined due to lower service fees.
Computer Sciences Corporation (CSC) reported its second quarter fiscal 2006 results including: revenue of $3.57 billion, up 5.3% from the previous year; net income of $99.5 million including a $33.1 million non-cash impairment charge; and new contract awards of $2.5 billion. Revenue growth was driven by increased commercial and U.S. federal government business. Significant new contracts were won with Banca Intesa, Centers for Medicare and Medicaid Services, and General Dynamics. CSC's pipeline for U.S. federal opportunities over the next 17 months is approximately $30 billion.
The document is a SEC Form 10-Q quarterly report filed by four companies: Northern States Power Co. (a Minnesota corporation), Northern States Power Co. (a Wisconsin corporation), Public Service Co. of Colorado, and Southwestern Public Service Co. It provides consolidated financial statements and notes for the first quarter ended March 31, 2003, including statements of income, cash flows, and balance sheets for NSP-Minnesota and NSP-Wisconsin. Key details include NSP-Minnesota reporting $44 million in net income on $927 million in revenues, and NSP-Wisconsin reporting $19.8 million in net income on $185 million in revenues.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its second quarter 2008 results. Key points:
- Revenues increased 7% year-over-year to $20.3 billion. People served grew by 2 million to 73 million.
- Adjusted operating margin was 7.2%, down from 10.9% in the prior year. Adjusted net earnings were $0.67 per share, down 25% from the prior year.
- The company continues to expect full-year 2008 adjusted net earnings per share of $2.95-$3.05 and adjusted cash flows from operations of approximately $5 billion.
Home BancShares reported first quarter 2009 net income of $6.2 million, or $0.28 per share, compared to $7.3 million, or $0.36 per share in first quarter 2008. Excluding a gain in 2008, earnings increased 78% year-over-year. Net interest income grew 4.7% to $21.8 million while net interest margin expanded. Non-interest income and expenses also increased. Loans grew 5.3% to $1.97 billion while deposits declined slightly to $1.84 billion and nonperforming assets rose. The company opened a new branch and is consolidating six banks under one charter as Centennial Bank.
CSC reported strong financial results for the second quarter of fiscal year 2005, with revenue increasing 9.6% year-over-year to $3.93 billion. Both the global commercial and U.S. federal government segments contributed to revenue growth. CSC won $3.9 billion in new contracts during the quarter. The company expects continued demand in the federal government for IT modernization and infrastructure projects.
This document is an SEC Form 10-Q quarterly report filed by RF Monolithics, Inc. for the quarter ended February 28, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, the company had a net loss of $1.5 million on revenues of $6.6 million. Cash and cash equivalents decreased to $819,000 from $1.3 million at the end of the previous fiscal year. The company was also not in compliance with certain financial covenants related to its credit facilities.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against developing mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
First Commonwealth Financial Corporation reported financial results for the first quarter of 2009. Core net income decreased 25.1% from the first quarter of 2008 to $8.1 million due to an increase in provisions for credit losses and higher expenses, partly offset by higher net interest income and lower taxes. Net charge-offs increased to $19.5 million in the first quarter. Non-performing loans decreased $26.9 million. First Commonwealth recognized $9.9 million in impairment losses relating to trust preferred securities and bank equity securities.
Dime Community Bancshares reported earnings for the quarter ended March 31, 2009. Net income was $2.9 million, or $0.09 per diluted share, compared to $5.3 million, or $0.16 per diluted share, in the previous quarter. Earnings were impacted by $5 million in OTTI charges on securities and $4.1 million in loan loss provisions and credit costs. Excluding these items, earnings per share would have been $0.21, in line with previous guidance. Non-performing loans remained low at 0.40% of total loans and core deposits grew 10% from the previous year.
Home BancShares reported second quarter 2009 net income of $5.4 million, or $0.24 per share. Excluding one-time charges, core earnings were $6.7 million or $0.30 per share. Net interest income increased 4.5% year-over-year due to improved margins. Non-interest income also rose due to growth in mortgage lending. However, non-performing loans increased, particularly in Florida, and the company accrued $1.2 million for an upcoming FDIC special assessment. During the quarter, Home BancShares consolidated its six bank charters into a single charter under the name Centennial Bank.
1) Sandy Spring Bancorp reported net income of $1.0 million for Q1 2009, down from $8.2 million in Q1 2008.
2) The provision for loan and lease losses was $10.6 million for Q1 2009 due to risk rating downgrades and specific reserves for residential real estate development loans.
3) Noninterest expenses decreased 2% from Q1 2008 and customer funding sources increased 8% from both Q1 and Q4 2008 due to growth in money market accounts.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group that reports their financial results for the first quarter of 2007. Some key highlights include revenues of $19.05 billion, earnings from operations of $1.58 billion, and a reported operating margin of 8.3%. Net earnings per share were $0.66 or $0.74 excluding one-time charges. The filing also provides segment-level financial results for the Health Care Services segment, which achieved revenues of $17.09 billion and earnings from operations of $1.30 billion.
This document is an 8-K filing by First State Bancorporation reporting their financial results for the first quarter of 2009. It summarizes that they had a net loss of $24.4 million compared to net income of $3.9 million in the same period in 2008, largely due to increased provision for loan losses. Core deposits increased by $158.9 million while loans decreased by $50.5 million. They also signed an agreement to sell their Colorado branches which will boost capital ratios.
This document is an 8-K filing by Lakeland Financial Corporation announcing its earnings for the first quarter of 2009. Net income was $3.9 million compared to $5.2 million for the same period in 2008. The company also maintained its quarterly dividend of $0.155 per share. Average total loans increased 18% year-over-year and net interest income grew 17% driven by loan growth. However, provisions for loan losses also increased due to higher charge-offs and economic conditions. Non-interest income declined due to mortgage servicing impairment, while non-interest expense rose 11% primarily from increased regulatory and legal expenses.
- DST Systems reported financial results for the first quarter of 2009 with consolidated net income of $73.2 million compared to $72.2 million in the first quarter of 2008.
- Operating revenues decreased $35.2 million compared to the first quarter of 2008 primarily from declines in the Financial Services and Output Solutions segments.
- Mutual fund accounts serviced decreased by 2.7 million accounts compared to the end of 2008 due to account closures and conversions to non-DST platforms.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
This document is Visteon Corporation's annual report (Form 10-K/A) filed with the SEC, which provides an amendment and restatement of Visteon's annual report for the year ended December 31, 2003. The restatement is primarily due to corrections made for retiree healthcare benefits, tooling costs, volume rebates, inventory costs, pension expenses, and tax adjustments. The restatement increased Visteon's reported net loss for 2003 by approximately $80 million. The annual report provides an overview of Visteon's business, including information on its automotive operations and glass operations segments, and discusses trends in the automotive parts industry.
The document summarizes key points from the January FOMC meeting and provides an economic calendar and predictions for the coming week:
1) The FOMC statement was very dovish, extending the period before expected rate hikes to late 2014 or later and emphasizing that projections should be discounted compared to the policy guidance.
2) The FOMC has quietly raised its inflation target and changed the weights in its Taylor rule to accept more inflation volatility in support of broader economic goals like lending and housing.
3) Taken together, the FOMC actions suggest an even later first rate hike, higher odds of additional QE focused on mortgage-backed securities, and a more accommodative monetary policy to support the economy.
The document is a Form 8-K filed by CC Media Holdings, Inc. with the SEC reporting second quarter 2008 financial results. It summarizes that CC Media Holdings reported a 2% increase in revenue to $1.83 billion for Q2 2008 compared to Q2 2007. Operating expenses increased 6% to $1.19 billion, and income before discontinued operations increased 28% to $277.3 million. CC Media Holdings also provided updates on its acquisition of Clear Channel which closed on July 30, 2008, the divestiture of non-core radio stations, revenue and expenses by division, and non-cash compensation expense.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
CSC reported strong revenue growth and financial results for the second quarter of fiscal year 2004. Revenue increased 32% to $3.59 billion compared to the same period last year, driven by growth in the federal government sector from the DynCorp acquisition. Net income was $108.1 million. For the third quarter, CSC expects revenue in the range of $3.6 billion and earnings per share between $0.68 to $0.70. CSC also highlighted major new contracts signed during the quarter with customers such as Providian Financial and the U.S. Air Force.
MetroCorp Bancshares Inc. filed an 8-K report announcing its financial results for the first quarter of 2009. The company reported a net loss of $2.0 million compared to net income of $2.2 million in the first quarter of 2008. The provision for loan losses increased to $7.3 million due to higher net charge-offs. Nonperforming assets also increased impacting interest income and the net interest margin, which declined to 3.44% from 4.09% a year earlier. Expenses declined due to lower salaries from staff reductions, however noninterest income declined due to lower service fees.
Computer Sciences Corporation (CSC) reported its second quarter fiscal 2006 results including: revenue of $3.57 billion, up 5.3% from the previous year; net income of $99.5 million including a $33.1 million non-cash impairment charge; and new contract awards of $2.5 billion. Revenue growth was driven by increased commercial and U.S. federal government business. Significant new contracts were won with Banca Intesa, Centers for Medicare and Medicaid Services, and General Dynamics. CSC's pipeline for U.S. federal opportunities over the next 17 months is approximately $30 billion.
The document is a SEC Form 10-Q quarterly report filed by four companies: Northern States Power Co. (a Minnesota corporation), Northern States Power Co. (a Wisconsin corporation), Public Service Co. of Colorado, and Southwestern Public Service Co. It provides consolidated financial statements and notes for the first quarter ended March 31, 2003, including statements of income, cash flows, and balance sheets for NSP-Minnesota and NSP-Wisconsin. Key details include NSP-Minnesota reporting $44 million in net income on $927 million in revenues, and NSP-Wisconsin reporting $19.8 million in net income on $185 million in revenues.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its second quarter 2008 results. Key points:
- Revenues increased 7% year-over-year to $20.3 billion. People served grew by 2 million to 73 million.
- Adjusted operating margin was 7.2%, down from 10.9% in the prior year. Adjusted net earnings were $0.67 per share, down 25% from the prior year.
- The company continues to expect full-year 2008 adjusted net earnings per share of $2.95-$3.05 and adjusted cash flows from operations of approximately $5 billion.
Home BancShares reported first quarter 2009 net income of $6.2 million, or $0.28 per share, compared to $7.3 million, or $0.36 per share in first quarter 2008. Excluding a gain in 2008, earnings increased 78% year-over-year. Net interest income grew 4.7% to $21.8 million while net interest margin expanded. Non-interest income and expenses also increased. Loans grew 5.3% to $1.97 billion while deposits declined slightly to $1.84 billion and nonperforming assets rose. The company opened a new branch and is consolidating six banks under one charter as Centennial Bank.
CSC reported strong financial results for the second quarter of fiscal year 2005, with revenue increasing 9.6% year-over-year to $3.93 billion. Both the global commercial and U.S. federal government segments contributed to revenue growth. CSC won $3.9 billion in new contracts during the quarter. The company expects continued demand in the federal government for IT modernization and infrastructure projects.
This document is an SEC Form 10-Q quarterly report filed by RF Monolithics, Inc. for the quarter ended February 28, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, the company had a net loss of $1.5 million on revenues of $6.6 million. Cash and cash equivalents decreased to $819,000 from $1.3 million at the end of the previous fiscal year. The company was also not in compliance with certain financial covenants related to its credit facilities.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against developing mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
This document discusses trends in television and video technology. It notes that uncompressed high definition video requires a high data transfer rate of 90MB/s for 25 frames per second. Current internet speeds like 3G, broadband, WiFi and USB 2.0 cannot support such high data rates. The document then covers topics like interlacing, deinterlacing, video compression standards, and considerations for editing uncompressed video. It goes on to discuss internet broadcasting techniques like adaptive bitrate streaming that allow high quality video over varying internet speeds. The future of television is predicted to include ever higher resolutions like 4K and 8K ultra high definition video.
Overview of the shift in marketing from command and control to relationship and why that makes sense. The underlying premise is that humans are by nature social and engage in word of mouth marketing -- now we have the tech to do that globally.
Let’s Shap Cultures! A Creative Approach to Language LearningFiorenza Congedo
Ralph Annina from Bradford High School in Kenosha, Wisconsin and Fiorenza Congedo from G. Marconi Technical High School in Verona, Italy presented on their project using MagazineFactory to facilitate student writing and cultural exchange. The project aims to promote language learning through technology by having students from each school publish articles on various topics in their virtual magazine. Benefits include increased student motivation to learn a foreign language and improved language skills. The project is transferable as new classes can join at any time during the school year.
These 5 actions to take are key to creating a website that will actually contribute to your business. Take the time to do each one of these before you build or hire someone to create your website. Then you can use your website as an asset to your business and leverage that to greater revenues.
If you don't do these things, you might as well throw your money away -- it's that simple.
CDI Corp. filed a Form 10-Q with the SEC for the quarterly period ending March 31, 2009. The filing includes CDI's consolidated balance sheet, statement of operations, statement of shareholders' equity, and statement of cash flows for the periods ended March 31, 2009 and March 31, 2008. It also includes notes to the financial statements providing additional information. CDI provides business process outsourcing and professional services and saw declines in revenue and earnings compared to the prior year period due to the difficult economic environment.
M&T Bank Corporation reported its financial results for the first quarter of 2009. Net income was $64 million, down from $202 million in the first quarter of 2008. Earnings per share were $0.49. The results were impacted by $32 million in impairment charges on investment securities and a higher provision for credit losses of $158 million. However, core deposits grew by $1.7 billion or 20% annualized. Noninterest income declined from the prior year, but residential mortgage banking revenues reached a record high. Overall, M&T remained profitable in the quarter despite challenges in the broader economy.
Cadence Financial Corporation reported preliminary first quarter results, with a net loss of $17.6 million compared to net income of $2.8 million in the first quarter of 2008. The loss was due to a significant increase in loan loss provisions and non-performing loans. Cadence hired an independent firm to review goodwill valuation and expects an impairment charge, though the size is unknown. The company remains well-capitalized and deposit accounts are FDIC insured. Final results will be reported by May 11 after the goodwill review is completed.
Glacier Bancorp reported net earnings of $15.779 million for the first quarter of 2009, a decrease of 9% from the same quarter last year. Total assets increased 15% to $5.581 billion from March 31, 2008. Net interest income increased 24% to $60.378 million compared to the first quarter of 2008. The efficiency ratio improved to 51% for the quarter from 55% in the first quarter of 2008.
Clear Channel Communications reported financial results for the fourth quarter and full year of 2007. Revenue increased 4% to $1.84 billion for Q4 2007 and 6% to $6.82 billion for the full year. Net income increased 22% to $223.6 million for Q4 and 36% to $938.5 million for the full year. Diluted earnings per share were $0.45 for Q4 2007, up 22%, and a record $1.89 for the full year, up 37%. The company also reported progress on plans to divest its television and non-core radio assets.
S.Y. Bancorp reported first quarter 2009 earnings of $4.7 million, down slightly from $5 million in the first quarter of 2008. Total assets grew 7% to $1.631 billion due to a 7% increase in loans. However, net interest margin declined to 3.80% from 3.95% due to falling interest rates and new trust preferred securities. While credit quality remained strong with non-performing loans at 0.43% of total loans, the company increased its loan loss provision to $1.625 million in anticipation of potential future issues given economic uncertainty.
American Safety Insurance Holdings reported net earnings of $5.5 million for the first quarter of 2009, compared to $6 million for the same period in 2008. Gross premiums written decreased 6% to $50.9 million while net premiums earned increased 17% to $44.7 million. The combined ratio was 101.1% compared to 100.4% in the prior year quarter, with the loss ratio increasing to 60.6% from 57.9% due primarily to one reinsurance treaty that was non-renewed. Book value per share increased to $21.35 from $21.12 at the end of 2008.
- Provident New York Bancorp reported net income of $9.0 million, or $0.23 per diluted share, for the third quarter of fiscal year 2009. This was higher than the $6.3 million, or $0.16 per diluted share, reported for the third quarter of fiscal year 2008.
- Key factors positively impacting results included realized securities gains of $10.0 million, lower net charge-offs, and growth in low-cost deposits. However, margins declined due to competitive interest rates and liquidity measures.
- Credit quality metrics such as nonperforming loans and net charge-offs improved compared to prior quarters, although risks remain from the challenging economic environment.
- The document is Washington Trust Bancorp's 8-K filing for its first quarter 2009 earnings release dated April 27, 2009.
- Earnings were down compared to first quarter 2008 due to impairment losses on securities, a higher loan loss provision, and increased FDIC insurance costs, among other factors.
- However, commercial loans and in-market deposits grew in the first quarter, and noninterest income was boosted by gains on loan sales.
Avocent Corporation reported financial results for the first quarter of 2009. Net sales declined 11% to $126.1 million compared to the first quarter of 2008. The company reported a GAAP net loss of $42.6 million due to a $55 million non-cash write down of goodwill. Operational net income was $11.2 million, down from $14.5 million in the prior year. LANDesk sales grew 18% to $34.5 million and operational profit was a record for the first quarter. Avocent provided an outlook for the second quarter of 2009 with revenues expected between $126-134 million and operational EPS between $0.26-0.36.
Clear Channel Communications reported first quarter 2008 results, with revenues increasing 4% to $1.6 billion compared to the same period in 2007. Expenses also increased 8% to $1.1 billion, and income before discontinued operations increased 70% to $161.4 million. The company completed the sale of its television group for $1 billion and continued selling non-core radio stations, with 223 stations sold through March 31, 2008 and an additional 32 under definitive agreements. The proposed merger with a group led by Thomas H. Lee Partners and Bain Capital was delayed, with no estimated closing date given.
- Micron Technology reported financial results for its third quarter of fiscal year 2008, which ended on May 29, 2008. Net sales increased 10% compared to the previous quarter to $1.5 billion, but the company still reported a net loss of $236 million.
- Cost of goods sold per gigabit decreased approximately 15-25% compared to the previous quarter for DRAM and NAND Flash memory products. However, the company continues to implement restructuring initiatives to improve efficiency and reduce costs.
- Cash flow from operating activities was $217 million for the quarter and the company ended with $1.6 billion in cash, though capital expenditures remain high at $577 million for the quarter.
Commerce Bancshares reported lower earnings in Q1 2009 compared to Q1 2008. Net income was $30.8 million in Q1 2009 versus $64.2 million in Q1 2008, with earnings per share of $0.40 in Q1 2009 compared to $0.84 in Q1 2008. The decrease was primarily due to a higher loan loss provision resulting from worsening economic conditions. Total assets were $17.9 billion and deposits were $14.0 billion as of March 31, 2009. Non-performing assets increased but capital levels remained strong.
- Alliance Financial Corp reported net income of $2.0 million for Q2 2009, down from $2.9 million in Q2 2008, due to a significant increase in FDIC insurance premiums.
- Total assets increased 5.5% to $1.4 billion from year-end 2008, with growth in securities and loans partially offset by a decline in leases.
- Nonperforming assets totaled $8.0 million or 0.55% of assets, up from $5.1 million a year ago, as economic weakness led to higher delinquencies.
Bucyrus International reported financial results for Q1 2009. Sales increased 17.2% to $605.7M driven by a 15.5% rise in original equipment sales and 19.3% increase in aftermarket parts. Gross profit grew 20.2% to $170.2M and operating earnings increased 40.5% to $94.6M. Surface mining sales rose 9.5% and underground mining sales increased 26.5%. Net earnings were $56.9M, an increase of 38.3% over Q1 2008. Management is pleased with the company's financial performance in a challenging economic environment.
This document is an 8-K filing by Bancorp Rhode Island, Inc. announcing its financial results for the first quarter of 2009. It reported net income of $1.46 million, down 37% from the same period last year. Diluted earnings per share were $0.22, down 56% year-over-year. Total assets increased to $1.55 billion. The commercial loan portfolio grew by $28.2 million this quarter and by $109.7 million compared to a year ago. Nonperforming assets totaled $17.4 million, up from $15.2 million last quarter.
Datalink Corporation reported financial results for the second quarter of 2009 with the following highlights:
- Revenues for Q2 2009 were $43.7 million, down 11.7% from $49.7 million in Q2 2008. However, revenues increased 9.6% sequentially from Q1 2009.
- Net income for Q2 2009 was $283,000 or $0.02 per share, compared to net income of $979,000 or $0.08 per share in Q2 2008.
- Non-GAAP net income for Q2 2009 was $595,000 or $0.05 per share, compared to $1.3 million or $0.10 per
Q2 2009 Earning Report of Datalink Corp.Manya Mohan
Datalink Corporation reported its financial results for the second quarter of 2009. Revenue was $43.7 million, up 10% from the first quarter but down from $49.7 million in the second quarter of 2008. Net income was $283,000 or $0.02 per share. The company expects revenues in the third quarter to be between $41-45 million with GAAP earnings of -$0.01 to $0.04 per share and non-GAAP earnings of $0.01 to $0.06 per share. While the economy remains challenging, the company saw increases in customer support revenues, virtualization activity, and tools-based services engagements.
First Cash Financial Services reported first quarter 2009 earnings per share of $0.32 from continuing operations, exceeding analyst estimates. Total earnings per share were $0.38. The company opened 18 new stores, reaffirmed full-year 2009 EPS guidance of $1.36-$1.38, and expects to open 55-60 new stores in Mexico for the year.
Micron Technology reported financial results for its first quarter of fiscal year 2009. It posted a net loss of $706 million compared to a net loss of $344 million last quarter. Sales decreased 4% from last quarter to $1.4 billion due to lower average selling prices for DRAM and NAND flash memory products. Gross margin declined from the prior quarter due to decreases in memory product prices outpacing cost reductions. The company continued restructuring activities this quarter, resulting in a $66 million credit in operating expenses. Cash flow from operations was $359 million for the quarter.
Micron Technology reported financial results for its fourth quarter and fiscal year 2008, ended August 28, 2008. For the quarter, Micron reported a net loss of $344 million compared to a net loss of $158 million in the prior year quarter. For the fiscal year, Micron reported a net loss of $1.6 billion compared to a net loss of $320 million in the prior fiscal year. Micron's results were negatively impacted by a $205 million charge to write down inventory values and a $463 million charge in the second quarter to write off goodwill in its memory segment. Excluding these charges, Micron's net loss would have been $209 million for the quarter and $1.021 billion for
Similar to Q1 2009 Earning Report of Unitedhealth Group Inc. (20)
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The document is Apple Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 27, 2009.
- It provides Apple's condensed consolidated financial statements and notes to the financial statements for the quarter.
- The financial statements show that Apple's net sales increased 12% to $8.3 billion for the quarter compared to $7.5 billion in the same quarter the previous year, while net income increased 15% to $1.2 billion from $1.1 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
This document provides an agenda and highlights for Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with investors. It includes introductions, a discussion of 4Q and FY performance and strategies, financial results, and a Q&A session. Key metrics highlighted are 7.6% sales growth and a 1.5% decline in net earnings for 4Q, and 7.3% sales growth and a 7% decline in net earnings for FY2009. The document also outlines Walgreen's strategies around healthcare reform, the flu season, and expanding their business model.
1) Infosys Technologies reported financial results for the quarter ending September 30, 2009, with revenues of $1.154 billion, a 5.1% decline from the previous year. Net income was $317 million, a 0.9% decline.
2) For the quarter ending December 31, 2009, Infosys expects revenues between $1.155-1.165 billion, a 1.4-0.5% decline from the previous year, and earnings per share of $0.50, a 13.8% decline.
3) For the full fiscal year ending March 31, 2010, Infosys expects revenues between $4.60-4.62 billion, a 1
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
PepsiCo held its 2009 Q3 earnings call on October 8, 2009. In the call, PepsiCo reaffirmed its guidance for 2009 of mid-to-high single digit constant currency net revenue and core EPS growth. PepsiCo also set a 2010 target of 11-13% core constant currency EPS growth, assuming the closing of acquisitions of PBG and PAS in early 2010. PepsiCo reported 5% constant currency net revenue growth and 8% core constant currency EPS growth in Q3 2009. PepsiCo highlighted investments planned for 2010 in areas such as R&D, emerging markets, brands, IT infrastructure, sustainability, and developing its employees.
- Alcoa held its 3rd quarter 2009 earnings conference call on October 7, 2009
- The call discussed Alcoa's financial results for the 3rd quarter of 2009 as well as the current state and outlook of the aluminum market
- Key highlights included income from continuing operations of $73 million, revenue up 9% sequentially, and initiatives offsetting currency and energy headwinds
The Pepsi Bottling Group reported third quarter 2009 results. Comparable diluted EPS was $1.06 and reported diluted EPS was $1.14. Currency neutral operating income grew 10% compared to the prior year on a comparable basis, while reported operating income declined 4% due to foreign exchange impacts. The company remains on track to achieve full-year 2009 guidance of $2.30-$2.40 diluted EPS at the high end of the range and has raised operating free cash flow guidance to approximately $550 million.
- Jean Coutu Group reported an increase in sales and revenues for the second quarter of 2010 compared to the same period last year. Total sales increased 7.7% to $549 million while revenues from franchising increased 7.3% to $608.7 million.
- Net earnings for the quarter were $14.9 million compared to a net loss of $39.1 million in the previous year. Earnings per share were $0.07 compared to a loss per share of $0.16 last year.
- Rite Aid also reported financial results for the second quarter, with revenues of $6.3 billion and a net loss of $116 million. Rite Aid revised its guidance
Minerva plc presented preliminary results for the year ended 30 June 2009. Key points included successfully restructuring and extending £750 million in loan facilities with no scheduled maturities in the current or next fiscal year. Development projects such as The Walbrook and St. Botolphs were on time and on budget. Tenant interest was improving for office developments in London's financial district despite a difficult real estate market.
This document is Worthington Industries' quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes financial statements and notes for the quarter, as well as a discussion of financial results by management. Some key details include:
- Net sales for the quarter were $417.5 million, down from $913.2 million in the prior year quarter. The company reported a net loss of $4.5 million compared to net income of $79.7 million in the previous year.
- Inventories totaled $232.9 million as of August 31, 2009, down from $270.6 million as of May 31, 2009 as the company worked to reduce inventory levels.
The document provides the agenda and highlights from Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with analysts held on September 29, 2009. It discusses 4th quarter and fiscal year financial results including net sales growth of 7.6% and 7.3% respectively, adjusted earnings per share of $0.44 and $2.02, and prescription sales growth. The document also summarizes Walgreen's strategies around healthcare reform, the H1N1 flu pandemic, expanding health services and 90-day prescriptions to lower costs.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Using Online job postings and survey data to understand labour market trends
Q1 2009 Earning Report of Unitedhealth Group Inc.
1. UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 21, 2009
UNITEDHEALTH GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
Minnesota 1-10864 41-1321939
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
UnitedHealth Group Center, 9900 Bren Road East,
Minnetonka, Minnesota 55343
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (952) 936-1300
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
2. Item 2.02. Results of Operations and Financial Condition.
On April 21, 2009, UnitedHealth Group Incorporated (the “Company”) issued a press release announcing its first quarter 2009 results.
A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
The press release contains the following non-GAAP financial measures:
1. adjusted fourth quarter 2008 earnings from operations and operating margin, each of which excludes a pre-tax operating cost
charge for the settlement of class action litigation related to the reimbursement for out-of-network medical services and a pre-tax
reduction in operating costs for insurance recoveries and legal fees related to various matters; and
2. adjusted first quarter 2009 year-over-year increase in Health Care Services earnings from operations, which excludes the impact
of a decrease in investment and other income.
The most directly comparable GAAP financial measures to these non-GAAP measures are as follows:
Fourth quarter 2008 earnings from operations $ 1.3 billion
Fourth quarter 2008 operating margin 6.3%
First quarter 2009 year-over-year decrease in Health Care Services earnings from operations $(50 million)
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are attached to the
press release.
The information in this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor
shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933, except as shall be expressly set
forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
Exhibit Description
99.1 Press Release dated April 21, 2009
3. Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: April 21, 2009
UNITEDHEALTH GROUP INCORPORATED
By: /s/ Christopher J. Walsh
Christopher J. Walsh
Senior Vice President, Senior Deputy General
Counsel and Assistant Corporate Secretary
5. Exhibit 99.1
NEWS RELEASE
Investors: Brett Manderfeld John S. Penshorn G. Mike Mikan
Vice President Senior Vice President Chief Financial Officer
952-936-7216 952-936-7214 952-936-7374
Media: Don Nathan
Senior Vice President
952-936-1885
(For Immediate Release)
UNITEDHEALTH GROUP REPORTS FIRST QUARTER RESULTS
• Revenues of $22 Billion, up 8% Year-Over-Year
• Cash Flows from Operations of $1.1 Billion
• Net Earnings of $0.81 Per Share, up 4% Year-Over-Year
• Continues to Project 2009 Net Earnings of $2.90 to $3.15 Per Share
MINNEAPOLIS (April 21, 2009) – UnitedHealth Group (NYSE: UNH) today reported strong first quarter results, including better-
than-projected earnings and cash flows from operations, a strong balance sheet position, solid revenue growth, and financial metrics
broadly in line with or ahead of Company expectations.
Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, “First quarter 2009 results were driven by our
continued focus on fundamental performance and execution. More broadly, we continue to deliver ever greater health care value
through innovation, service and effective cost and care management for the people we serve.”
The Company continues to project full year 2009 cash flows from operations of approximately $5 billion and net earnings in the
range of $2.90 to $3.15 per share, with the broad range reflecting the uncertainty in the overall economic environment.
Page 1 of 10
6. Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2009 2008 2008
Revenues $22.00 billion $20.30 billion $20.45 billion
Earnings From Operations $ 1.62 billion1
$ 1.67 billion $ 1.71 billion
Operating Margin 7.9%1
7.6% 8.4%
Management views year-over-year comparisons of results to be generally more meaningful than sequential comparisons, given the
seasonality of revenues, medical expenses, operating costs and earnings from operations in important business lines such as Medicare
Part D drug programs, high deductible insurance products and health informatics offerings.
UnitedHealth Group Highlights
• UnitedHealth Group’s consolidated first quarter revenues of $22.0 billion increased $1.7 billion or 8 percent year-over-
year. The Company’s organic revenue growth rate accelerated to 6 percent in the first quarter of 2009.
• First quarter investment income of $158 million decreased $121 million year-over-year, which reduced net earnings by
$0.06 per share. While invested asset balances were comparable year-over-year, capital market conditions meaningfully
reduced yields on the Company’s cash and short duration, high quality investment portfolio. UnitedHealth Group results
included a net $3 million capital gain in the first quarter of 2009.
• Earnings from operations of $1.7 billion and net earnings of $984 million were both stable year-over-year. The operating
margin of 7.6 percent decreased 80 basis points from the prior year, with 50 basis points of the change due to reduced
investment income and the balance due to a change in business mix driven by strong growth in comparatively lower
margin government-sponsored business at AmeriChoice, OptumHealth and Ovations.
• First quarter 2009 net earnings of $0.81 per share increased $0.03 or 4 percent year-over-year.
1 Adjusted numbers are non-GAAP financial measures. Further explanation of these non-GAAP measures and reconciliations to
the comparable GAAP measures are included in the attached reconciliation schedules.
Page 2 of 10
7. UnitedHealth Group Highlights – Continued
• First quarter 2009 premium revenues increased $1.7 billion or 9 percent year-over-year, principally due to strong organic
growth in risk-based offerings in the public and senior markets businesses, as well as the effect of acquisitions by
UnitedHealthcare and AmeriChoice during 2008.
• Product revenues of $439 million increased $76 million or 21 percent year-over-year in the first quarter, due to volume
growth at Prescription Solutions.
• The consolidated medical care ratio of 82.4 percent was flat year-over-year, with improvements in the medical care ratio
for the commercial risk business offset by higher medical care ratios for the public and senior markets businesses.
• In the first quarters of both 2008 and 2009, the Company realized $200 million in favorable development in its estimates of
medical costs incurred in previous years.
• Operating costs were 14.2 percent and 14.3 percent of revenues in the first quarters of 2009 and 2008, respectively. First
quarter 2009 operating costs included a 20 basis point year-over-year increase in retroactive and current state insurance
premium assessments that partially offset year-over-year improvements in the Company’s underlying cost structure.
• The first quarter 2009 income tax rate of 36.0 percent decreased 20 basis points year-over-year.
• There were 9 days sales outstanding in accounts receivable at the end of the first quarter of both 2008 and 2009. Cash
collection disciplines remained solid despite broader economic pressures.
• Consolidated medical costs days payable were in line with management’s expectations at 50 days in the first quarter of
2009, compared to 51 days in the first quarter of 2008.
• Cash flows from operations of $1.1 billion increased $832 million from $280 million in last year’s first quarter, reflecting
strong growth in risk-based products in the public and senior markets businesses and the timing of income tax payments.
Cash flows from operations were 113 percent of net earnings in the first quarter of 2009 compared to 28 percent of net
earnings in the first quarter of 2008.
• The Company reduced its debt position by $1.1 billion in the first quarter and the March 31, 2009 debt to debt plus equity
ratio decreased to 35.4 percent from 40.1 percent at March 31, 2008. The Company repurchased more than 32 million
shares of stock during the first quarter of 2009.
Page 3 of 10
8. Business Description – Health Care Services
Health Care Services provides network-based health care benefits and services for a full spectrum of customers. UnitedHealthcare
serves employers ranging from sole proprietorships to large, multi-site and national employers, as well as students and individuals. In
the Public and Senior Markets Group, Ovations delivers health and well-being services to Americans over the age of 50, while
AmeriChoice manages health care services for state Medicaid and other publicly funded programs and their beneficiaries.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2009 2008 2008
Revenues $20.67 billion $19.02 billion $19.08 billion
Earnings From Operations $ 1.32 billion $ 1.37 billion $ 1.27 billion
Operating Margin 6.4% 7.2% 6.6%
Key Developments for Health Care Services
• First quarter 2009 revenues for Health Care Services increased $1.7 billion or 9 percent year-over-year to $20.7 billion.
The revenue increase was principally driven by pricing increases and an increase in customers served in the public and
senior markets businesses, which were partially offset by the decline in consumers served through commercial products.
First quarter Health Care Services earnings from operations of $1.3 billion increased $62 million 1 year-over-year, prior to
•
the impact of a $112 million year-over-year decrease in investment income. Reported earnings from operations decreased
$50 million or 4 percent year-over-year. The Health Care Services operating margin declined 80 basis points year-over-
year to 6.4 percent in the first quarter, as improvements in profitability in the commercial business were offset by a 50
basis point reduction in margin contribution from investment income, as well as the impact of strong growth in
comparatively lower margin public and senior markets businesses.
Page 4 of 10
9. Key Developments for Health Care Services – Continued
UnitedHealthcare
• First quarter revenues of $10.3 billion were flat year-over-year, with premium increases offsetting a reduction in
consumers served. The overall membership decline was modestly favorable to expectations, as stronger-than-expected
customer retention more than offset increased attrition driven by economic pressures on clients in the quarter. Compared to
year end 2008, UnitedHealthcare served 445,000 fewer people through risk-based products and 460,000 fewer people
through fee-based products at March 31, 2009.
• The UnitedHealthcare medical care ratio of 81.5 percent improved 100 basis points year-over-year. First quarter results
benefited from a reduced incidence of influenza-like illness year-over-year and the effect of favorable development in prior
year medical cost estimates. UnitedHealthcare believes it is renewing business consistent with its expectations for medical
cost trend.
Ovations
• Ovations revenues were $8.4 billion in the first quarter, up $973 million or 13 percent year-over-year.
• For Medicare Advantage programs, Ovations reported first quarter growth of 200,000 people or 13 percent year-over-year.
Strengthened product design, marketing and distribution and local market engagement drove strong, balanced growth in
Medicare Advantage.
• Steady growth in active Medicare Supplement products has continued, with Ovations increasing the number of seniors
served in this product family by 60,000 to 2.6 million in the first quarter.
• Ovations experienced strong first quarter growth in Part D prescription drug plans, which increased by approximately
400,000 seniors in the quarter, including individuals receiving Part D benefits integrated with their medical benefits
through Medicare Advantage plans. Ovations now serves more than 5.8 million people in Part D prescription drug plans,
an increase of 7 percent year-over-year, reflecting the value consumers see in broad network access, competitive benefit
designs and comprehensive drug formularies.
AmeriChoice
• AmeriChoice first quarter revenues of $1.9 billion increased $707 million or 59 percent year-over-year, driven by 29
percent year-over-year organic growth and the 2008 acquisition of Unison Health Plans. The Company served 2.7 million
people in the Medicaid and state program market, an increase of 815,000 people year-over-year and 180,000 people in the
first quarter.
• AmeriChoice reported a successful launch of a new TennCare Medicaid program in eastern Tennessee in the first quarter.
This launch included assuming medical cost risk for 100,000 people previously served through a fee-based program
managed by AmeriChoice on behalf of the state of Tennessee. Total Medicaid risk-based membership increased by
275,000 people in the quarter.
Page 5 of 10
10. Business Description – OptumHealth
OptumHealth is one of the nation’s leading health and wellness companies. Employers, payers and public sector organizations use
OptumHealth behavioral benefit solutions, clinical care management, financial services and specialty benefit products such as dental
and vision. OptumHealth helps consumers navigate the health care system, finance their health care needs and achieve their health
and well-being goals.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2009 2008 2008
Revenues $1.33 billion $1.30 billion $1.31 billion
Earnings From Operations $158 million $197 million $177 million
Operating Margin 11.9% 15.1% 13.6%
Key Developments for OptumHealth
• First quarter revenues of $1.3 billion grew 2 percent year-over-year for OptumHealth. Highlights included strong new
business development in large scale behavioral health programs for state clients and increased overall product penetration
of OptumHealth benefits and services at continuing UnitedHealthcare customers. These mitigated revenue losses
associated with the UnitedHealthcare membership decline.
• OptumHealth’s first quarter earnings from operations of $158 million decreased $39 million or 20 percent year-over-year
due to the impact of the membership decline at UnitedHealthcare, as well as a reduction in investment income. These
factors, as well as the continued growth in lower margin public sector business, brought OptumHealth’s first quarter
operating margin to 11.9 percent.
• OptumHealth Financial Services, the Company’s dedicated health banking organization, ended first quarter with
approximately $780 million in assets under management, an increase of 35 percent year-over-year. OptumHealth Financial
Services electronically transmitted $7.4 billion in medical payments to physicians and other health care providers in the
first quarter of 2009, a year-over-year increase of 29 percent.
• In April 2009 OptumHealth introduced eSync, an advanced technology platform that synchronizes and delivers a person’s
medical information, helping plan sponsors and physicians identify and follow through on opportunities for more effective
care and care plan compliance. eSync provides patients with personalized health management support through multiple
contact channels. Broad pilot testing for this system showed a 20 percent increase in sustained patient compliance with
health management programs and a doubling in overall consumer use of these programs, indicating this platform helps
improve care quality and compliance and lowers costs.
Page 6 of 10
11. Business Description – Ingenix
Ingenix is a leader in the field of health care information, services and consulting, serving pharmaceutical companies, health insurers
and other payers, physicians and other health care providers, large employers and governments.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2009 2008 2008
Revenues $385 million $362 million $426 million
Earnings From Operations $ 49 million $ 47 million $ 76 million
Operating Margin 12.7% 13.0% 17.8%
Key Developments for Ingenix
• Ingenix revenues of $385 million increased $23 million or 6 percent year-over-year in the first quarter of 2009, despite
economic pressures affecting market demand in the health information technology, consulting and pharmaceutical services
markets.
• Continued growth in consulting services and growth in governmental client business across many product categories more
than offset a year-over-year decline in pharmaceutical services backlog. The Ingenix contract revenue backlog grew 6
percent on a year-over-year basis to $1.8 billion at March 31, 2009.
• Ingenix first quarter operating earnings increased $2 million or 4 percent year-over-year to $49 million, with the operating
margin stable year-over-year due to effective operating cost disciplines.
• The management of Ingenix expects the market growth rate and related business opportunities in health information and
technology to accelerate meaningfully over the next 18 to 36 months, driven by expanding market demand. Ingenix
believes it is well positioned for market growth in electronic medical records, comparative effectiveness research, health
information exchanges and connectivity, information security, and physician performance and payment accuracy solutions.
• In April 2009 Ingenix announced that CareTracker, a web-based electronic medical record system for the physician office
market, was available for as little as a $5,000 per year subscription to help physicians qualify for incentive payments under
the American Recovery and Reinvestment Act. CareTracker helps clinicians enter, retrieve and correlate patient
information at the point of care, and helps physician offices with performance measurement, revenue cycle management
and related administrative tasks.
Page 7 of 10
12. Business Description – Prescription Solutions
Prescription Solutions offers a comprehensive array of pharmacy benefit management and specialty pharmacy management services
to employer groups, union trusts, seniors and commercial health plans.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2009 2008 2008
Revenues $3.54 billion $3.21 billion $3.12 billion
Earnings From Operations $140 million $ 98 million $ 80 million
Operating Margin 4.0% 3.1% 2.6%
Key Developments for Prescription Solutions
• Prescription Solutions first quarter revenues of $3.5 billion increased $333 million or 10 percent year-over-year, driven by
strong growth in consumers served through Part D prescription drug plans.
• First quarter earnings from operations grew $42 million or 43 percent year-over-year to $140 million. Increased profits
were driven by script volume growth, improved drug purchasing, steady gains in mail service drug fulfillment, and a
continuing favorable mix shift to generic pharmaceuticals. These factors lifted Prescription Solutions first quarter operating
margin by 90 basis points to 4.0 percent.
• During the quarter, Prescription Solutions received national recognition for its Drug Interaction Alert program. This
program specifically targets dangerous drug interactions caused by the issuance of prescriptions for a patient by at least
two different physicians. In an independent study, Drug Interaction Alert helped to resolve potentially dangerous drug-drug
interactions for 40 percent of the study participants, reducing the risk of adverse drug reactions and improving participants’
safety and quality of life.
Page 8 of 10
13. About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in
Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses:
UnitedHealthcare, Ovations, AmeriChoice, OptumHealth, Ingenix and Prescription Solutions. Through its family of businesses,
UnitedHealth Group serves more than 70 million individuals nationwide. Visit www.unitedhealthgroup.com for more information.
Earnings Conference Call
As previously announced, UnitedHealth Group will discuss the Company’s results, strategy and future outlook on a conference call
with investors at 8:45 a.m. Eastern time today. UnitedHealth Group will host a live webcast of this conference call from the Investors
page of the Company’s Web site (www.unitedhealthgroup.com). The webcast replay of the call will be available on the same site
through May 5 following the live call. The conference call replay can also be accessed by dialing 1-800-642-1687, conference ID
#70593647. This earnings release and the Form 8-K dated April 21, 2009, which may also be accessed from the Investors page of the
Company’s web site, include a reconciliation of non-GAAP financial measures.
Forward-Looking Statements
This press release may contain statements, estimates, projections, guidance or outlook that constitute “forward-looking” statements as
defined under U.S. federal securities laws. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,”
“project,” “should” and similar expressions, identify forward-looking statements, which generally are not historical in nature. These
statements may contain information about financial prospects, economic conditions, trends and uncertainties and involve risks and
uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of
certain factors. Some factors that could cause results to differ materially from the forward-looking statements include: our ability to
effectively estimate, price for and manage our health care costs; our ability to respond quickly and appropriately to health care
reforms; failure to comply with federal and state regulations affecting the managed care industry; the potential impact of the adverse
conditions in the global economy and extreme disruption of financial markets on our revenues, sources of liquidity, investment
portfolio, and our results of operations; regulatory and other risks associated with the pharmacy benefits management industry;
competitive pressures, which could affect our ability to maintain or increase our market share, including as a result of new entrants
into our market, and consolidation of health care companies and suppliers; uncertainties regarding changes in Medicare, including
coordination of information systems and accuracy of certain assumptions; potential reductions in revenue received from Medicare and
Medicaid programs, including as a result of reduced payments to private plans offering Medicare Advantage; our ability to execute
contracts on competitive terms with physicians, hospitals and other service professionals; our ability to attract, retain and provide
support to a network of independent third party brokers, consultants and agents; failure to comply with restrictions on patient privacy
and information security; events that may negatively affect our contracts with AARP; increases in costs and other liabilities associated
with increased litigation; the potential consequences of various governmental reviews and litigation matters related to our historical
stock option practices and the potential consequences of each of these matters on our business, credit ratings and debt; events that
may
Page 9 of 10
14. adversely affect the value of our investment portfolio; possible impairment of the value of our intangible assets if future results do not
adequately support goodwill and intangible assets recorded for businesses that we acquire; increases in health care costs resulting
from large-scale medical emergencies; failure to maintain effective and efficient information systems, which could result in the loss
of existing customers, difficulties in attracting new customers, difficulties in determining medical costs estimates and appropriate
pricing, customer and physician and health care professional disputes, regulatory violations, increases in operating costs, or other
adverse consequences; misappropriation of our proprietary technology; our ability to obtain sufficient funds from our regulated
subsidiaries to fund our obligations; failure to complete or receive anticipated benefits of acquisitions; and potential downgrades in
our debt ratings.
This list of important factors is not intended to be exhaustive. A further list and description of some of these risks and uncertainties
can be found in our reports filed with the Securities and Exchange Commission from time to time, including the cautionary statements
in our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any or all forward-looking
statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only
as of the date they are made. We do not undertake to update or revise any forward-looking statements.
Page 10 of 10
15. UNITEDHEALTH GROUP
Earnings Release Schedules and Supplementary Information
Quarter Ended March 31, 2009
• Consolidated Statements of Operations
• Condensed Consolidated Balance Sheets
• Condensed Consolidated Statements of Cash Flows
• Segment Financial Information
• Customer Profile Summary
• Non-GAAP Increase in Health Care Services Earnings From Operations and Non-GAAP Operating Results Excluding Special
Items
Use of Non-GAAP Financial Measures
The increase in Health Care Services earnings from operations excluding investment income decreases and operating results
excluding special items as used in the press release are not calculated in accordance with GAAP and should not be considered a
substitute for or superior to financial measures calculated in accordance with GAAP. Management believes that the use of non-GAAP
financial measures improves the comparability of our results between periods. These financial measures provide investors and our
management with useful information to measure and forecast our results of operations, to compare on a consistent basis our results of
operations for the current period to that of prior periods, and to compare our results of operations on a more consistent basis against
that of other companies in the health care industry.
These non-GAAP financial measures have limitations in that they do not reflect all of the special items associated with the operations
of our business as determined in accordance with GAAP. As a result, one should not consider these measures in isolation. We
compensate for these limitations by analyzing current and future results on a GAAP basis as well as non-GAAP basis, disclosing
these GAAP financial measures, and providing a reconciliation from GAAP to non-GAAP financial measures.
16. UNITEDHEALTH GROUP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(unaudited)
Three Months Ended
March 31,
2009 2008
REVENUES
Premiums $20,111 $18,389
Services 1,296 1,273
Products 439 363
Investment and Other Income 158 279
Total Revenues 22,004 20,304
OPERATING COSTS
Medical Costs 16,570 15,144
Operating Costs 3,128 2,897
Cost of Products Sold 404 325
Depreciation and Amortization 234 225
Total Operating Costs 20,336 18,591
1,668 1,713
EARNINGS FROM OPERATIONS
Interest Expense (131) (154)
1,537 1,559
EARNINGS BEFORE INCOME TAXES
Provision for Income Taxes (553) (565)
$ 984 $ 994
NET EARNINGS
$ 0.81 $ 0.78
DILUTED NET EARNINGS PER COMMON SHARE
Diluted Weighted-Average Common Shares Outstanding 1,210 1,278
17. UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(unaudited)
March 31, December 31,
2009 2008
ASSETS
Cash and Short-Term Investments $ 8,845 $ 8,209
Accounts Receivable, net 2,300 1,929
Other Current Assets 4,978 4,852
Total Current Assets 16,123 14,990
Long-Term Investments 13,250 13,366
Other Long-Term Assets 26,712 27,459
Total Assets $56,085 $ 55,815
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medical Costs Payable $ 9,288 $ 8,664
Commercial Paper and Current Maturities of Long-Term Debt 514 1,456
Other Current Liabilities 9,747 9,641
Total Current Liabilities 19,549 19,761
Long-Term Debt, less current maturities 11,223 11,338
Future Policy Benefits 2,291 2,286
Deferred Income Taxes and Other Liabilities 1,647 1,650
Shareholders’ Equity 21,375 20,780
Total Liabilities and Shareholders’ Equity $56,085 $ 55,815
18. UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Three Months Ended
March 31,
2009 2008
Operating Activities
Net Earnings $ 984 $ 994
Noncash Items:
Depreciation and amortization 234 225
Deferred income taxes and other (6) 27
Share-based compensation 95 72
Net changes in operating assets and liabilities (195) (1,038)
Cash Flows From Operating Activities 1,112 280
Investing Activities
Cash paid for acquisitions, net of cash assumed — (3,265)
Purchases of property, equipment and capitalized software, net (160) (212)
Net sales (purchases) of investments 4 (293)
Cash Flows Used For Investing Activities (156) (3,770)
Financing Activities
Common stock repurchases (689) (1,472)
Net change in commercial paper and long-term debt (939) 1,858
Interest swap termination 513 —
Share-based compensation excess tax benefit 28 16
Customer funds administered 621 529
Other, net (29) (31)
Cash Flows (Used For) From Financing Activities (495) 900
Increase (Decrease) in cash and cash equivalents 461 (2,590)
Cash and cash equivalents, beginning of period 7,426 8,865
Cash and cash equivalents, end of period $ 7,887 $ 6,275
19. UNITEDHEALTH GROUP
SEGMENT FINANCIAL INFORMATION
(in millions)
(unaudited)
Three Months Ended
March 31,
2009 2008
REVENUES
Health Care Services (a) $20,672 $19,017
OptumHealth 1,332 1,304
Ingenix 385 362
Prescription Solutions 3,539 3,206
Eliminations (3,924) (3,585)
Total Consolidated $22,004 $20,304
Three Months Ended
March 31,
2009 2008
EARNINGS FROM OPERATIONS
Health Care Services $ 1,321 $ 1,371
OptumHealth 158 197
Ingenix 49 47
Prescription Solutions 140 98
Total Consolidated $ 1,668 $ 1,713
(a) Revenues for first quarter 2009 and first quarter 2008 were $10,338 and $10,363 for UnitedHealthcare; $8,423 and $7,450 for
Ovations; and $1,911 and $1,204 for AmeriChoice, respectively.
20. UNITEDHEALTH GROUP
CUSTOMER PROFILE SUMMARY
ALL BUSINESS UNITS
(in thousands)
(unaudited)
March December March December
People Served 2009 2008 2008 2007
Commercial Risk-based 9,915 10,360 10,585 10,805
Commercial Fee-based 15,525 15,985 16,005 14,720
Total Commercial 25,440 26,345 26,590 25,525
Medicare Advantage 1,695 1,495 1,455 1,370
Medicaid 2,695 2,515 1,880 1,710
Standardized Medicare Supplement 2,600 2,540 2,450 2,400
Total Public and Senior (a) 6,990 6,550 5,785 5,480
Total Health Care Services Medical Benefits 32,430 32,895 32,375 31,005
Total People Served 71,125 72,800 73,070 70,950
Supplemental Data - included in Total People Served
OptumHealth 58,500 59,700 60,400 58,700
Total Part D Prescription Drug Plans 5,845 5,450 5,475 5,950
Consumer-Driven Health Plans 2,880 2,735 2,725 2,315
(a) Excludes pre-standardized Medicare Supplement and other AARP products. These products are included in Total People
Served.
21. UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Measures
(in millions)
(unaudited)
Increase in Health Care Services Earnings From Operations
Excluding the Impact of the Decrease in Investment and Other Income
Health Care Services earnings from operations for the three months ended March 31, 2009 $1,321
Health Care Services earnings from operations for the three months ended March 31, 2008 1,371
GAAP decrease in Health Care Services earnings from operations $ (50)
Add: Year-over-year decrease in investment and other income 112
Non-GAAP increase in Health Care Services earnings from operations $ 62
Operating Results Excluding Special Items for the Quarter Ended December 31, 2008
Earnings from operations $1,279
Add: Reduction to operating costs (a) 340
Non-GAAP earnings from operations $1,619
Operating margin 6.3%
Add: Reduction to operating costs (a) 1.6%
Non-GAAP operating margin 7.9%
(a) Includes a pre-tax operating cost of $350 million for the settlement of class action litigation related to reimbursement for out-of-
network medical services, partially offset by a net reduction in pre-tax operating costs of $10 million for insurance recoveries
and legal fees related to various matters.