LOUISVILLE, Ky. (Feb. 2) - Health insurer Humana Inc. reported a 28 percent drop in fourth-quarter profit Monday, driven partly by a double-digit income decline in its government segment business.

For the three months ended Dec. 31, Humana earned nearly $174.1 million, or $1.03 per share. That's compared with earnings of $243.2 million, or $1.43 per share, in the year-ago period.

The Louisville-based company posted revenue of nearly $7.5 billion in the just-ended quarter, up 18 percent from a year ago.

Humana blamed the quarterly earnings decline mainly on higher claim expenses for its stand-alone prescription drug plan and lower net investment income. The company said pretax income from its government segment dropped by 12 percent to $267.3 million for the quarter.

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2009-02-02 06:55:34

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