Write-offs cause loss
Thursday, Oct. 25, 2001 | 10:34 a.m.
One-time charges caused Sierra Health Services Inc. of Las Vegas to post a loss for the quarter ending Sept. 30.
Sierra Health, a health care services and insurance company, reported a loss of $7.6 million, or 27 cents per share. This compares to net income of $2.7 million, or 10 cents per share, in the year-ago quarter.
The loss was caused by $11.6 million in after-tax charges taken in the quarter. These charges, which were comprised of both cash and non-cash charges, related to the termination of Sierra's HMO operations in Texas. Without these charges, Sierra would have reported net income of $4 million, or 15 cents per share.
Revenues were down less than 1 percent to $376.3 million.
Sierra reported gains in Nevada during the quarter, as commercial membership in the state rose nearly 20 percent over the year-ago quarter. But gains in medical premiums and specialty product revenues were offset by a 16 percent decrease in military contract revenues.
archive
- Most Read
- Discussed
- Most E-mailed
- Scuffle in pub parking lot leads to attorney’s arrest
- Palin craze puzzling, given ’08 disaster
- The ins and outs of CityCenter traffic
- Harrah’s moves ahead with Planet Hollywood deal
- Man arrested for DUI after crashing into high school’s wall
- MGM Mirage begins lifting veil on CityCenter today
- Vdara hotel marks opening of CityCenter
- Henderson postpones vote on massage parlor law
- Despite few points, inspiration keeps ‘Chop’ high on plus-minus list
- LV woman robs Kentucky strip club, police say
Blogs
The Kats Report
Dissimilar landmarks -- Binion's and CityCenter -- reflect today's Las Vegas (2 Comments)
High School Sports Scene
Prep Football: State Championship
Elsewhere
UFC debut in Boston likely July or August (1 Comment)
The Kats Report
Planet Hollywood's Thomas McCartney headed for Tropicana (15 Comments)
Elsewhere
LV woman robs Kentucky strip club, police say (5 Comments)
Las Vegas Sands' Hong Kong IPO flops (3 Comments)
The Kats Report
Monday List: Top 13 Moments and Observations From Thanksgiving Weekend (4 Comments)
Calendar »
- 2 Wed
- 3 Thu
- 4 Fri
- 5 Sat
- 6 Sun
-
Nic Faniciulli at Godskitchen
Body English | 10:30 p.m. to 11:59 p.m.
-
Mischieve Wednesdays at T&T
Tacos and Tequila
-
Ben Sherman gift bag giveaways at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati





