Centene Corporation, a multi-line healthcare enterprise, has reported net earnings from continuing operations of $18 million for the second quarter ended June 30, 2008, compared to $10.2 million for the same quarter of 2007.
For the quarter, revenues were $860.1 million, or $837.9 million net of premium taxes, an 18.2% increase over the comparable quarter of 2007. The increase in revenues was primarily driven by premium rate increases in Georgia, membership growth in Texas and Ohio, as well as growth in Texas from the new Foster Care contract commenced in April 2008.
Total assets of the company as June 30, 2008 increased to $1.22 million from $1.12 million as of December 31, 2007.
Michael Neidorff, chairman and CEO of Centene, said: We are pleased with the progress our results show this quarter and believe they set a foundation for improvement that we can build on for the rest of 2008 and beyond.