Cigna 4Q income plummets

February 9, 2006

NH Business Review Staff,

With one-time gains from the sale of its retirement benefits division leveling off, Cigna’s fourth-quarter earnings fell nearly 60 percent.

For the quarter ended Dec. 31, 2005, net income totaled $224 million, or $1.78 per share, compared with $558 million, or $4.16 per share, for the same period last year.

According to a press release from the Philadelphia-based health insurer, the fourth quarter of 2005 included a gain of $4 million from the sale of Cigna’s retirement benefits business, while the same quarter the previous year included a net gain of about $165 million from various non-recurring items.

If the one-time gains and losses are excluded, adjusted income from operations for the fourth quarter of 2005 was $249 million, or $1.98 per share, versus $323 million, or $2.41 per share, for the same period last year.

Net income for 2005 was $1.64 billion, or $12.63 per share, up about 12 percent from 2004 earnings of $1.44 billion, or $10.43 per share.

Cigna expects 2006 full-year adjusted income from operations to be in the range of $7.25 to $7.70 per share, officials said, with $1.65 to $1.80 per share for the first quarter. — CINDY KIBBE

Categories: News

More news from NHBR:

Warning Of A System Hacked. Virus, Cyber Attack, Malware Concept. 3d Rendering.

Will hackers use your own AI against you?

Businesses have spent years asking what AI can do for their employees. Fewer have asked what it would do for an intruder inside an employee’s account.

Adding features does not close deals, passing security audits does

Many companies fall into the trap of innovation without realizing that not passing a data security audit will stall a deal right in its tracks.

Close Up Of A Finger About To Press The Accept All Cookies Button On A Website Consent Banner, Illustrating Internet Privacy, User Data Tracking, And Gdpr Compliance.

Website tracking technologies: why are businesses being sued for using them?

Laws in other states, including in New Hampshire, are being used to hold businesses liable for their use of website tracking technologies

Realistic Cloud Computing Cost Optimization Diagram Displayed Across Multiple Monitors In A Software Engineering Office, Diagram Showing Applications Connecting To Elastic Compute Instances, Automat

The (multi) million-dollar question: what your board needs to know before the breach

Getting cybersecurity wrong costs millions of dollars, customer trust, and sometimes the business itself.

Sylvania celebrates 125 of innovation

The Sylvania brand celebrated 125 years of bringing light into the world with a Sept. 24 event at its plant in Hillsborough. The plant on West Main Street, which produces automotive lighting products for original equipment manufacturers and the aftermarket, is the last major automotive aftermarket lighting plant in the country.

Man, Developer And Help With Coding On Computer Screen In Office For Testing Web Application Or Troubleshooting. Programming, Staff And Employee With Advice On Developing Software Solution At Startup

Cybersecurity hiring in New Hampshire: talent, pipelines, and the impact of AI

Cybersecurity requires a mix of technical depth, real-world experience, and the ability to think critically under pressure. That combination takes time to build, and most companies are competing for the same relatively small pool of proven talent.

Woman Using Ai Voice Agent On Smartphone For Smart Home And Virtual Assistance

Prompt injection is the new social engineering: what it looks like and how to stop it

Prompt injection is the AI era's version of social engineering, and it's already happening in the wild. If you're deploying AI tools in your organization and haven't thought seriously about this, you should.

Business Professional Presenting Financial Data On A Large Screen During Meeting

How to use cybersecurity to increase your business’s value

Strong cybersecurity can also boost business valuations and inspire buyer confidence. Both sides of the transaction should treat cybersecurity as a key factor in building enterprise value.

Trouble on the home front

Permitting and construction of new homes is up, but it’s still at historic lows and not enough to keep up with demand. The recent housing production is mostly single-family, with a smattering of multi-family developments but relatively few duplexes, triplexes and fourplexes.