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01.06.2017 12:15:00

CorVel Announces Revenues and Earnings

IRVINE, Calif., June 01, 2017 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ:CRVL) announced the results for the quarter and fiscal year ended March 31, 2017. Revenues for the quarter ended March 31, 2017 were $134 million, an increase of 4% from revenues of $128 million in the same quarter of the prior year. Earnings per share for the quarter ended March 31, 2017 were $0.42, an increase of 23% from earnings per share of $0.34 in the same quarter of the prior year.Revenues for the fiscal year ended March 31, 2017 were $519 million and were $504 million for fiscal year ended March 31, 2016. Earnings per share for the fiscal year ended March 31, 2017 were $1.51, an increase of 6% from earnings per share of $1.43 for fiscal year ended March 31, 2016.The Company continues to invest in the development of its claims management platform, CareMC, for employers and carriers. During the quarter advances were made in user interfaces, consolidating information to facilitate actions and edits on each claim, increasing efficiencies and productivity.The Return-to-Work module organizes claimant information to shorten disability periods.  The Edge interface provides clients a single access point to streamline managed care processes, helping claims professionals quickly address their highest priority tasks.  These new features demonstrate the benefits derived from integrating various components of the workers' compensation service continuum in real time.About CorVel CorVel Corporation is a national provider of innovative workers' compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organizations performance goals.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company's current expectations, estimates and projections about the Company, management's beliefs, and certain assumptions made by the Company, and events beyond theCompany's control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company's results of operations, including product investment strategies, bill review and claims management services. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company's actual results to differ materially and adversely from those expressed in any forward-looking statement.The risks and uncertainties referred to above include, but are not limited to, factors described in this press release and the Company's filings with the Securities and ...Full story available on Benzinga.com
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