Magellan Health Services Reports First Quarter 2011 Financial Results

Magellan Health Services MGLN today reported financial results for the first quarter of 2011, as summarized below, and increased guidance for the full year. For the quarter ended March 31, 2011, the Company reported net revenue of $692.8 million, segment profit of $75.7 million, and net income of $34.3 million or $1.02 per diluted common share. Segment profit represents income from operations before stock compensation expense, depreciation and amortization, interest expense, interest income, gain on sale of assets, special charges or benefits, and income taxes.