LV insurer’s profit hurt by Texas problems

Wednesday, May 10, 2000 | 11:36 a.m.

Sierra Health Services Inc. of Las Vegas, the biggest managed care operator in Nevada, reported a first quarter profit of $1.5 million or 6 cents per share vs. a loss of $706,000 or 3 cents per share in the year-earlier quarter.

Before special charges, net income was $5.1 million or 19 cents per share vs. $8 million or 30 cents in the year-ago quarter.

Sierra took a $3.6 million after-tax charge in the 2000 first quarter to cover restructuring of its Texas operations and for other problems. Revenue of $327 million was up 3 percent from the 1999 first quarter.

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