Clear One Health Plans Inc. reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported a third quarter 2009 net loss of $2.1 million, or $1.21 per share, compared to earnings of $491,000 for the year ago quarter, or $0.28 per share. The company noted that the quarterly loss was primarily due to an adverse economy resulting in decreases in premium revenue coupled with increased medical and operating expenses, as well as additional state income taxes paid in 2009. Total revenue increased to $57.2 million for the 2009 third quarter from $56.6 million for the year ago quarter due to increases in revenue from the company's subsidiary. Premium revenue decreased to $55.7 million for the 2009 third quarter compared to $56.5 million for the year ago quarter due to the economic downturn resulting in losses in membership. For the first nine months of 2009, premium revenue decreased slightly to $163.1 million compared with $163.3 million for the comparable prior year period. Total revenue increased to $167.6 million for the first nine months of 2009, against $163.7 million the prior year period. Earnings for the nine months ended September 30, were a net loss of $1.8 million, or $1.05 per share, compared with net income of $1.8 million, or $0.97 per share, for the prior year period.

Clear One Health Plans Inc. announced consolidated unaudited earnings results for third quarter and nine months ended Sept. 30, 2009. For the third quarter, the company reported net loss of $2.1 million, or $1.21 per share, compared to earnings of $491,000 for the year ago quarter, or $0.28 per share. The quarterly loss was primarily due to an adverse economy resulting in decreases in premium revenue coupled with increased medical and operating expenses, as well as additional state income taxes paid in the current year. Total revenue increased to $57.2 million for the 2009 third quarter from $56.6 million for the year ago quarter due to increases in revenue from the company's wholly-owned subsidiary, Trusteed Plans Service Corporate (TPSC). Loss from operations was $1.097 million against income from operations of $1.591 million for the same period a year ago. Loss before income taxes was $1.519 million against earnings before income taxes $1.429 million for the same period a year ago. For the first nine months of 2009, total revenue increased to $167.6 million for the first nine months of 2009, versus $163.7 million the prior year period. Earnings for the nine months ending September 30, 2009 were a net loss of $1.8 million, or $1.05 per share, compared with net income of $1.8 million, or $0.97 per share, for the prior year period. Loss from operations was $1.031 million against income from operations of $2.027 million for the same period a year ago. Loss before income taxes was $0.993 million against earnings before income taxes of $3.592 million for the same period a year ago.

Clear One Health Plans, lnc. announced the implementation of a staff reduction plan to address weaker market conditions resulting in decreases in membership, health care reforms that call for greater efficiency in administration, and to further strengthen the company's long-term competitiveness in the marketplace. The plan includes the reduction of approximately 25 positions throughout the organization, including management and executive staff. The majority of the impacted positions are non-customer service roles. The company expects staff reductions to be completed by December 31, 2009.