CorVel Corporation Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 31, 2017 at 04:45 pm IST
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CorVel Corporation announced unaudited earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported revenues of $128,403,000 and against $123,891,000 a year ago. Income from operations was $11,443,000 against $10,731,000 a year ago. Net income was $7,049,000 against $6,691,000 a year ago. Basic and diluted earnings per share were $0.36 against $0.34 a year ago. Results for the quarter were driven by improvements across most lines of business. The company has streamlined product lines through the consolidation of operational functions to maximize effectiveness for enhanced service delivery.
For the nine months, the company’s revenues were $385,081,000 against $375,290,000 a year ago. Income from operations was $34,832,000 against $35,427,000 a year ago. Net income was $21,492,000 against $21,859,000 a year ago. Diluted earnings per share were $1.09 against $1.09 a year ago.
CorVel Corporation applies technology including artificial intelligence, machine learning and natural language processing to enhance the management of episodes of care and the related health care costs. The Company partners with employers, third-party administrators, insurance companies and government agencies in managing workers' compensation and health, auto and liability services. Its customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients. The Company's services include claims management, bill review, preferred provider networks, utilization management, case management, pharmacy services, directed care and Medicare services. The Company offers a complete medical savings solution for all in-network and out-of-network medical bills. Its bill review services include coding review and re-bundling, reasonable and customary review, fee schedule analysis, preferred provider organization management, and repricing.
CORVEL CORPORATION 
