NU Online News Service, April 28, 2003, 12:05 p.m. EDT – Humana Inc., Louisville, Ky., is reporting $31 million in net income for the first quarter on $2.9 billion in revenue, compared with $50 million in net income on $2.7 billion in revenue for the first quarter of 2002.
Net income for the latest quarter includes a $30 million charge resulting from the cost of restructuring its operations and cutting 2,300 jobs.
Shutting down a customer service center in Jacksonville, Fla., and other facilities will cost about $17 million, Humana says. Humana also is writing off the cost of $14 million in software it plans to stop using after it restructures its customer service unit.
