* Q2 adj EPS $1.49 vs est $1.42
* Q2 rev $7.46 bln vs est $7.24 bln
* Raises 2012 profit view for the second time this yr
Aug 2 Insurer Cigna Corp reported a
better-than-expected quarterly profit and raised its 2012
earnings forecast for the second time this year, as its takeover
of Medicare specialist HealthSpring helped boost premiums and
Cigna on Thursday reported second-quarter net income of $380
million, or $1.31 per share, compared with $391 million, or
$1.43 per share, in the year-earlier period.
Excluding special items, Cigna earned $1.49 per share,
topping analysts' estimates of $1.42 per share, according to
Thomson Reuters I/B/E/S.
Total revenue for the quarter rose 35 percent to $7.46
billion, above Wall Street expectations of $7.24 billion.
Revenue growth was largely spurred by the HealthSpring
acquisition, which led to a 52 percent rise in premiums and fees
in the healthcare segment.
The company bought HealthSpring for $3.8 billion earlier
The deal gave Cigna a foothold in the business of selling
privately administered Medicare plans for senior citizens,
allowing it to attract the wave of baby boomers becoming
eligible for the federal health program.
Cigna raised its 2012 adjusted earnings forecast to $5.25 to
$5.60 per share. In May, the company had raised its 2012 view to
between $5.20 and $5.55 per share, citing strong profit from
healthcare, its largest segment.
Profit in the company's healthcare division rose 19 percent
to $332 million. Earnings in its disability and life segment
rose 1 percent to $89 million.
Earnings rose 14 percent in its international segment, which
sells supplemental insurance to individuals overseas, including
to employees working abroad.
The company's shares closed nearly flat at $40.24 on
Wednesday on the New York Stock Exchange.