Wednesday, August 4, 2010

While Idaho's Medicaid Mess Grows, Molina's Profits Rise

Posted By on Wed, Aug 4, 2010 at 6:10 PM

The company in the center of the hurricane that is Idaho's Medicaid mess is reporting a tidy profit in its latest financials released late Wednesday.

Molina disclosed quarterly premium revenue of $977 million, up 6 percent over 2009. Specifically, Molina's Medicaid solutions division contributed $5 million to the company's overall operating income, resulting in an operating profit margin of approximately 24 percent.

Shares of the company closed at $31.71 Wednesday on the New York Stock Exchange.

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