PacifiCare Health Sees Net Profits Increase

PacifiCare Health Systems of Cypress said net profits for its fiscal 1987 second quarter ended March 31 leaped to $674,000 from the $51,000 earned during the comparable period last year when PacifiCare’s payments for several expensive catastrophic illnesses among its members caused profits to plummet. Revenues for the second quarter totaled $75 million, nearly double last year’s $38.4 million.

However, profits for the first six months dropped by 7% to $1.27 million from $1.4 million. Revenues for the first half totaled $137.2 million, more than double the $67.7 million from last year.