500 West Main Street
P.O. Box 1438
Louisville, KY 40201-1438
http://www.humana.com
news release
For More Information Contact:
Regina Nethery
Humana Investor Relations
(502) 580-3644
E-mail: [email protected]
Tom Noland
Humana Corporate Communications
(502) 580-3674
E-mail: [email protected]
HUMANA APPROVES STOCK BUYBACK AND ANNOUNCES
EXPECTATIONS FOR SECOND QUARTER RESULTS
- Repurchase of up to five million shares planned
- Second quarter EPS expected to be in line with consensus
estimate of $.11 per diluted share
LOUISVILLE, KY (July 13, 2000) - Humana Inc.
(NYSE: HUM) today reported that its board of
directors authorized the repurchase of as many as
five million of its common shares. The company
has 167.7 million shares outstanding as of June
30, 2000.
The company said the shares may be repurchased
from time to time in open-market purchases, in
negotiated transactions, or by using forward-
purchase contracts.
Humana said the share repurchase will be used in
conjunction with an equity incentive plan aimed at
the retention of key employees during the
Company's turnaround.
Humana also announced that it expects its earnings
per share for the second quarter to be in line
with analysts' consensus of $.11 per diluted
share, with a full press release on the company's
second quarter results to be issued on August 3,
2000.
Humana Inc., headquartered in Louisville,
Kentucky, is one of the nation's largest publicly
traded managed health care companies, with
approximately 5.9 million medical members located
primarily in 15 states and Puerto Rico. Humana
offers coordinated health care coverage through a
variety of plans - health maintenance
organizations, preferred provider organizations,
point-of service-plans and administrative service
products - to employer groups, government-
sponsored plans and individuals.
More information regarding Humana is available via
the Internet at www.humana.com, including on-line
copies of our annual report to shareholders, Form
10-K, Form 10-Qs, proxy statement, and recent
presentations to investor groups.
This news release contains forward-looking
statements. The forward-looking statements made
in this news release are made pursuant to the safe
harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking
statements may be significantly impacted by
certain risks and uncertainties described in
Humana's annual report on Form 10-K for the year
ended December 31, 1999 and in Humana's quarterly
report on Form 10-Q for the quarter ended March
31, 2000, as filed with the Securities and
Exchange Commission.
