CorVel Corporation Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 30, 2012
January 29, 2013 at 06:15 am EST
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CorVel Corporation reported unaudited earnings results for the third quarter and nine months ended December 30, 2012. For the quarter, the company reported net income of $5,924,000 or $0.53 per basic and diluted share on revenues of $107,287,000 compared to net income of $5,400,000 or $0.47 per basic and diluted share on revenues of $101,381,000 for the last year. The company reported income from operations of $10,024,000 compared to $8,894,000 for the last year.
For the nine months, the company reported net income of $19,150,000 or $1.69 per basic and diluted share on revenues of $317,351,000 compared to net income of $21,479,000 or $1.84 per basic and diluted share on revenues of $308,241,000 for the last year. The company reported income from operations of $31,886,000 compared to $35,164,000 for the last year.
CorVel Corporation applies technology including artificial intelligence, machine learning and natural language processing to enhance the management of episodes of care and the related health care costs. The Company partners with employers, third-party administrators, insurance companies and government agencies in managing workers' compensation and health, auto and liability services. Its customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients. The Company's services include claims management, bill review, preferred provider networks, utilization management, case management, pharmacy services, directed care and Medicare services. The Company offers a complete medical savings solution for all in-network and out-of-network medical bills. Its bill review services include coding review and re-bundling, reasonable and customary review, fee schedule analysis, preferred provider organization management, and repricing.
CORVEL CORPORATION 
