The fastest-growing national Prescription Drug Benefits Manager in U.S., continued another quarter of revenue topping $1 Billion. Catalyst Health Solutions, Inc. (NASDAQ: CHSI), sales were well above the $1 Billion threshold with results showing over $1.23 Billion for the second quarter ended June 30, 2011.
Net income fell to $12.3 Million or $0.25 per diluted share from $19.4 Million $0.44 per diluted share.
"We are pleased with the Company's operational and financial performance," proclaimed David T. Blair, Chief Executive Officer of Catalyst. "In the second quarter, we completed the strategic acquisition of Walgreens Health Initiatives, Inc. (WHI), executed on our integration plans, retained key clients and sold new business."
Revenue for the first and second quarter totaling six months amounted to $2.4 Billion, a 37% increase over $1.7 Billion in the first half of last year. As reported by Metro Business Media, Catalyst Health Solutions could catapult to be amongst the Fortune 500 ranking companies. The Rockville, Md., based company updated its guidance with an outlook between $5.1 and $5.3 Billion in revenue for 2011, a 35% to 41% increase.