Magellan Health Services Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's net revenues were $667,589,000 against $656,462,000 a year ago. Income from continuing operations before income taxes was $48,820,000 against $37,167,000 a year ago. Net income was $30,987,000 or $0.88 per basic and diluted share against $23,489,000 or $0.58 per basic and diluted share a year ago. For the nine months, the company's net revenues were $1,922,905,000 against $1,963,610,000 a year ago. Income from continuing operations before income taxes was $103,416,000 against $103,763,000 a year ago. Net income was $62,946,000 or $1.77 per diluted share against $62,621,000 or $1.55 per diluted share a year ago. Net cash provided by operating activities was $100,623,000 against $236,767,000 a year ago. Capital expenditures were $25,808,000 against $23,955,000 a year ago. The company to increase guidance for the full year of 2009 to the upper half of its previously disclosed range. This guidance, including estimates for First Health Services, projects full-year segment profit in the range of $207.5 million to $217.5 million and net income of $85.3 million to $95.5 million. The company expects diluted EPS of $2.41 to $2.70. The company's EPS guidance reflects the impact of the repurchase of 431,000 shares through close of business yesterday, but excludes any impact from repurchases that may occur during the remainder of the fourth quarter.

Magellan Health Services Inc. said that the company will continue to evaluate potential acquisition opportunities. Rene Lerer, Magellan Health Services� Chairman and CEO said, �In the Medicaid administration segment, obviously through the transition we are focused primarily on client retention and up-selling activities. And we are also seeing an active pipeline for new business with some prospects interested in multiple products offered by First Health Services and Magellan. With respect to the M&A activity, we are continuing to be actively engaged in analyzing and reviewing acquisition opportunities. In addition, as mentioned earlier, we continue to act on our commitment to return capital to shareholders through our repurchase program.�

Magellan Health Services Inc. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on October 30, 2009).