Earnings rise at Amerigroup

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Virginia Beach-based Amerigroup Corp. reported Friday that 2010 fourth-quarter net income totaled $79.6 million, nearly double the $40.2 million recorded in the same quarter the year before.

Earnings per diluted share were $1.59 for the quarter, up from 79 cents the year before.

Amerigroup, a Fortune 500 company, coordinates publicly funded health-care programs for individuals.

Fourth-quarter total revenue was $1.5 billion, a 10.2 percent increase from the same period in 2009.

For the year, Amerigroup’s net income totaled $273.4 million, or $5.40 per diluted share. Those figures are up from $149.3 million, or $2.85 per diluted share, in 2009.

Total revenue for the year was $5.8 billion, up nearly 12 percent from 2009.

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