Bethesda-Based Coventry Health Care Inc. Reports Profitable Quarter

Coventry Health Care Inc., of Bethesda, a managed health care company, said its first-quarter profit rose 2.7 percent, as revenue surged on increases in membership. Coventry earned $125 million, or 81 cents per diluted share, in the quarter, compared with $121.7 million, or 76 cents per diluted share, for the same quarter in 2007. Total operating revenue jumped 32 percent to $2.94 billion from $2.24 billion in the year-ago period. Analysts polled by Thomson Financial expected a profit of 81 cents per diluted share on $2.98 billion in revenue.

Originally published by The Daily Record Staff.

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