Cigna says fourth-quarter profit fell, forecasts 2014 growth

Fri Feb 7, 2014 6:18am EST

Feb 7 (Reuters) - Cigna Corp, which provides health and other insurance, on Friday reported a lower fourth-quarter profit as medical costs in its private Medicare business came in higher than anticipated, and the company said it expected 2014 earnings to grow.

Cigna reported net income of $361 million, or $1.29 per share, down from $406 million, or $1.41 per share, a year earlier.

The latest results included a $40 million item, or 15 cents per share, for restructuring costs, while those in the 2012 period included $68 million, or 24 cents per share, for litigation.

Excluding those items, earnings fell to $1.39 per share from $1.57.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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