UnitedHealth Group (NYSE:UNH) announced that fourth quarter profit fell by one percent due to growing medical costs. The company earned $1.24 billion, or $1.20 per share, versus $1.26 billion, or $1.17 per share, during the same period last year. Revenue increased by 11 percent to $28.77 billion. Costs and claims increased by 12 percent to $20.8 billion. Analysts had forecast earnings of $1.20 per share and revenue of $28.23 billion.
Shares are lower by about 1.2 percent.
Adtran (NASDAQ:ADTN) announced that fourth quarter profits fell by 87 percent. Net income was $3.96 million versus $31.16 million in the same period last year. Sales during the fourth quarter were $139.8 million, versus $175.3 million during 2011.
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