UPDATE 1-Centene Q3 profit drops, cuts FY outlook

* Q3 EPS from cont. ops $0.44 vs $0.51 yr ago

* Q3 rev up 9.5 pct at $1.08 bln

* Sees FY EPS $1.76-$1.80

* Sees FY rev $4.25-$4.35 bln

Oct 26 (BestGrowthStock) – Health insurer Centene Corp (CNC.N: )
posted slightly lower adjusted quarterly profit, hurt by higher
operating expenses, and cut its full-year 2010 outlook.

The company now expects full-year earnings from continuing
operations of $1.76-$1.80 per share, compared with its previous
forecast of $1.78-$1.86 a share.

Analysts on an average expect full-year earnings of $1.83
per share on revenue of $4.46 billion, according to Thomson
Reuters I/B/E/S.

For the July-September quarter, net income from continuing
operations was $22.4 million, or 44 cents a share, compared
with $22.7 million, or 51 cents a share, in the year ago
quarter.

Excluding a 4 cents-per-share charge, the company earned 48
cents a share from continuing operations.

Premium and service revenue was up 9.5 percent to $1.08
billion.

Analysts were expecting the St. Louis, Missouri-based
company to earn 48 cents per share, excluding items, on revenue
of $1.14 billion, according to Thomson Reuters I/B/E/S.

Centene shares, which have gained around 10 percent since
its last quarterly results in July, closed at $24.44 Monday on
the New York Stock Exchange.
(Reporting by Rajarshi Basu in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Centene Q3 profit drops, cuts FY outlook