Fiscal Year Net Income Up for Pacific Health Systems

Bolstered by a continued increase in membership, Pacific Health Systems Inc. said net income for the 1984 fiscal year jumped 61%.

The Cypress-based owner and operator of health maintenance organizations (HMOs) in four states reported net income of $5.7 million for the fiscal year ended Sept. 30, 1985, up from $3.5 million for fiscal 1984.

Also up sharply for the year were the company’s revenues, increasing 49.8% to $89.9 million from $60 million.

For the fourth quarter, net income was up 26% to $1.4 million from $1.1 million for 1984’s final quarter. Fourth quarter revenues were also up, increasing 34% to $23.8 million from $17.8 million.

Terry Hartshorn, PacifiCare president, said the key factor in the improved profits was the 25% rise in the company’s HMO membership to 110,000, from 88,000 in 1984.