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Coventry Health Care Reports First Quarter Earnings

BETHESDA, Md.--(BUSINESS WIRE)--Coventry Health Care, Inc. (NYSE: CVH) today reported consolidated operating results for the quarter ended March 31, 2012. Operating revenues totaled $3.7 billion for the quarter with net earnings of $170.7 million, or earnings per diluted share (EPS) of $1.20. These results include EPS of $0.58 related to the release of Medicare Advantage Risk Adjustment Data Validation (RADV) audit reserves as a result of recent Centers for Medicare & Medicaid Services (CMS) audit methodology changes. Excluding the impact of the RADV prior period reserve release, earnings for the quarter were $88.3 million, or $0.62 EPS.