WellPoint announces boost in Q1 sales

INDIANAPOLIS Health insurer WellPoint had per-share net income 8% higher in first quarter 2009 than in the same period last year, according to financial results announced Wednesday.

The Indianapolis-based company announced that net income was $580.4 million, or $1.16 per share. Net income for first quarter 2008 was $588.1 million, or $1.07 per share.

“Our first quarter was solid in light of the current economy, and it is clear that the performance improvement initiatives we put into place last year are generating positive results,” WellPoint president and CEO Angela Braly said. “While our membership levels have been impacted by employer workforce reductions, we continue to take action to make our products more attractive and create more value for our customers.”

Operating revenue for the quarter was $15.3 billion, a 0.4% decrease from last year’s $15.4 billion. Medical enrollment also declined, by 814,000 members from last year’s 35.4 million, to 34.6 million this year.