FOUNDATION HEALTH SYSTEMS
Pro Forma Unaudited Consolidated Statement of Operations
(In thousands, except per share data)
Three-Months Ended March 31,
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1996 1997
Revenues ----------- -----------
Health plan premiums $ 1,311,181 $ 1,420,096
Government contracts 147,347 246,034
Workers' compensation revenue 137,831 130,664
Specialty services revenue 56,011 63,823
Investment and other income 23,613 34,526
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1,675,983 1,895,143
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Expenses:
Health plan services 1,066,556 1,176,156
Government health care services 103,062 190,912
Workers' compensation costs 121,449 122,527
Specialty services costs 48,846 53,601
Selling, general and administrative 197,617 219,383
Amortization and depreciation 26,726 25,600
Interest expense 9,309 15,005
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1,573,565 1,803,184
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Income from operations before income taxes
and discontinued operations 102,418 91,959
Income tax provision 36,751 33,478
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Net income before discontinued operations 65,667 58,481
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Loss on discontinued operations, net of tax (3,390) 0
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Net Income $ 62,277 $ 58,481
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Earnings per share primary and fully diluted $ 0.50 $ 0.47
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Weighted average common shares outstanding
Primary 124,071 125,682
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Fully diluted 124,113 125,738
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