Health Net Announces 3Q Net Income of $71M

Health Net, Inc. (NYSE:HNT) yesterday announced 2004 third quarter net income per diluted share of $.64 compared with a net loss of $.02 per diluted share in the third quarter of 2003 and earnings of $.36 per diluted share in the second quarter of 2004. Included in the results for the third quarter of 2004 is the full effect of a $5,172,000 pretax charge, or approximately $.03 per diluted share after tax, for severance and related benefits associated with the workforce reduction begun in the second quarter of 2004 and $400,000 of additional loss on the 2001 sale of the company's Florida heal...