Molina Healthcare Turns To Profit In Q2

(RTTNews) - Molina Healthcare, Inc. (MOH) Thursday reported second-quarter net income of $24.6 million or $0.53 per share, compared to net loss of $37.3 million or $0.80 per share in the comparable quarter last year.

Income from continuing operations were $15.8 million or $0.34 per share, compared to loss from continuing operations of $33.1 million or $0.71 per share in the prior year quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the latest second quarter was $1.61 billion, up from $1.48 billion last year. Analysts expected revenues of $1.61 billion.

Looking ahead to the fiscal year 2013, the company projects earnings of $1.72 per share and continues to expect income from continuing operations of $1.55 per share. Analysts currently expect full-year earnings of $1.61 per share.