Summary Box: Cigna 3Q profit falls 35 percent

AP News
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Posted: Oct 28, 2011 11:00 AM
Summary Box: Cigna 3Q profit falls 35 percent

RESULTS: Health insurer Cigna Corp.'s third-quarter profit tumbled 35 percent to $200 million, or 74 cents per share. That's down from $307 million, or $1.13 per share, a year ago. Adjusted income totaled $1.20 per share, and revenue climbed nearly 7 percent to $5.61 billion.

THE BIG REASON: The Bloomfield, Conn., insurer said Friday results included losses totaling $179 million, or 66 cents per share, from some discontinued businesses due to low interest rates and volatile equity markets.

THE EXPECTATIONS: Analysts surveyed by FactSet expected, on average, adjusted earnings of $1.23 per share on $5.45 billion in revenue.