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CIGNA Reports Third Quarter 2002 Results
FRIDAY, NOVEMBER 01, 2002 4:00 AM
- PR Newswire
PHILADELPHIA, Nov 1, 2002 /PRNewswire-FirstCall via COMTEX/ -- CIGNA Corporation (CI) today reported third quarter 2002 operating income(1) of $208 million ($1.49 per share(2)), excluding $1.045 billion after-tax in net nonrecurring charges(3). Operating income for the third quarter 2001 was $273 million, or $1.83 per share, excluding an $8 million after-tax net nonrecurring gain(3).
For the first nine months of 2002, operating income was $762 million ($5.41 per share), excluding $1.043 billion after-tax in net nonrecurring charges(3). For the first nine months of 2001, operating income was $807 million ($5.31 per share), excluding a $38 million after-tax net nonrecurring gain(3). Operating income and segment earnings described below exclude the effects of nonrecurring items(3).
CIGNA ceased amortizing goodwill effective January 1, 2002, in accordance with Statement of Financial Accounting Standards (SFAS) No.142, "Goodwill and Other Intangible Assets." On a comparable basis, operating income for the third quarter of 2001 was $285 million ($1.91 per share) and for the first nine months of 2001 was $843 million ($5.55 per share), excluding the nonrecurring items noted above.
"Our results are below our expectations and our potential, reflecting shortfalls in our health care business. Our other employee benefits businesses continue to achieve earnings in line with our expectations and to make progress in the execution of their strategies. Aggressive actions are being taken to improve performance in our health care operations and we are confident that these actions will be successful," said H. Edward Hanway, CIGNA's Chairman and Chief Executive Officer.
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die taxen für CIGNA in new york liegen derzeit nochmal 2 $ drunter....bei derzeit etwa 34 $ !!!
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gruß
Nok
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