December 6, 2017

CorVel Announces Q4 2013 Revenues and Earnings

Irvine, CA – CorVel Corporation (NASDAQ: CRVL) recently announced the results for the quarter ended December 31, 2013. Revenues for the quarter ended December 31, 2013 were a record $121 million, a 13% increase over the $107 million in revenue in the quarter ended December 31, 2012. Earnings per share for the quarter ended December 31, 2013 were $0.42, a 60% increase over earnings per share of $0.26 for the same quarter of the prior year.

Revenues for the nine months ended December 31, 2013 were a record $359 million, a 13% increase over the $317 million in revenue in the nine months ended December 31, 2012. Earnings per share for the nine months ended December 31, 2013 were a record $1.23, a 46% increase over earnings per share of $0.84 for the same period of the prior year.

Revenue growth for the quarter was driven by a 12% increase in the Company’s Patient Management service line and a 13% increase in its Network Solutions service line. Patient Management services include traditional medical case management and claims administration services. Revenue from claims administration services continues to grow at a rate in excess of 20%.

The December quarter included expenses to expand CorVel’s hospital line item bill review service it recently introduced to the health market. The Company has a proprietary database of in-patient pricing information which provides unique reviews for hospital reimbursement. CorVel is expanding the infrastructure to support this business including office space, recruiting and labor.

The complete earnings release is available here: CorVel Announces Q4 2013 Revenues and Earnings

Source: CorVel

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