Profit falls for LV managed care concern

Tuesday, Feb. 15, 2000 | 11:37 a.m.

Sierra Health Services Inc. of Las Vegas reported a fourth-quarter profit -- before special charges -- of $9.5 million or 35 cents per share, down from $12.5 million or 46 cents in the year-earlier quarter.

The profit slightly exceeded the mean estimate of analysts surveyed by Zacks Investment Research of 34 cents per share.

The company took charges of $30.8 million after tax, as expected, to restructure its Texas operation and for other special purposes. After the charge, Sierra lost $21.3 million or 79 cents per share in the quarter.

Revenues for the quarter of $327.3 million were up 9 percent from the year-earlier quarter. Cash flow was $36 million for the quarter, though it was a negative $8 million for the year, Sierra said.

Sierra reported its earnings Monday afternoon. Its stock was unchanged this morning at $7.50.

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