Health benefits provider Humana Inc. reported a 41 percent drop in third-quarter profits that were dragged down by the settlement of a lawsuit as well as costs from Hurricane Katrina.
The company posted net income of $49.9 million, or 30 cents per share, including 27 cents per share in expenses from settling a class-action case, as well as 3 cents per share in Hurricane Katrina expenses.
Excluding the items, Louis-ville-based Humana said it would have earned 60 cents per share, up 15 percent from a year ago.
Quarterly revenue increased to $3.82 billion.
The upswing in Humana's Medicare business offset sluggishness in its commercial sector. ''Medicare is carrying them right now,'' said Joe France, an analyst with Banc of America Securities.
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