CorVel Corp Q3 Profit Up - Quick Facts

(RTTNews) - CorVel Corp. (CRVL), Tuesday reported an increase in third-quarter profit, reflecting higher revenues, driven by a 12 percent increase in the company's Patient Management service line and a 15 percent increase in its Network Solutions service line.

For the three-month period, net income was $8.6 million or $0.41 per share, compared with $6.6 million or $0.29 per share last year.

Revenues increased 13 percent to $119 million, from prior year's $105 million.

During the quarter, the company continued its stock repurchase plan by repurchasing 372,000 shares of stock at an average price of $33.42. On an inception to date basis, the company has repurchased about 32 million shares for $321 million.