Health Net Increases 2007 Outlook

The managed health care provider Health Net raised its 2007 earnings outlook on an expected lower share count, the result of a $450 million buyback program. The Woodland Hills company said its revenue and profit were higher than Wall Street expectations. Revenue is estimated at $14 billion to $15 billion for 2007. Health Net also increased its profit outlook by $0.05 to $3.65 a share. The company previous announced it planned to repurchase 2.8 million shares of common stock.