Brief: Special charges cut into health firm’s profit
Monday, Feb. 8, 1999 | 10:30 a.m.
The results for the quarter ending Dec. 31 include special charges of $10.25 million for costs associated with the integration of a Texas health maintenance organization that Sierra bought last year; and to settle a competitor's challenge to Sierra winning a Defense Department health contract.
Without the special charges, Sierra would have earned $12.5 million or 46 cents per share.
Revenues for the fourth quarter were $301.2 million, a 58 percent increase over the $191.0 million reported in the same period one year ago.
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