Insurance company Health Net has reported net income of $123.4 million, or $1.10 per diluted share for the fourth quarter of 2007, compared to net income of $84.8 million, or $0.72 per diluted share for the fourth quarter of 2006.
For the full-year period of 2007, net income was $200.2 million, or $1.76 per diluted share, compared to $329.3 million, or $2.78 per diluted share for the full-year period of 2006.
Jay Gellert, president and CEO, said: We are very pleased with our performance in the fourth quarter and for the full year 2007. Our results highlight our strategy of shifting our commercial business to the small and mid-markets, focusing on Medicare growth opportunities and managing expenses.