Centene announces 2009 guidance, asset swap update

Centene Corp.’s earnings guidance for the next fiscal year will be little changed from its 2008 guidance, according to a statement released today by the company.

Centene, a managed care company based in Clayton, expects earnings per share of about $1.82 to $1.94 in fiscal 2009. The company reaffirmed its 2008 guidance of $1.87 to $1.92. Centene’s projects 2009 revenues to be $3.65 billion to $3.775 billion.

Centene expects to report its 2008 earnings on February 10.

This guidance excludes charges related to the sale in November of its New Jersey Medicaid business to rival Amerigroup Corp., the release said. Related to that sale, Centene said conditions have arisen which may delay the  closure of the deal.

Last month, Centene announced the deal to sell its New Jersey business and acquire Amerigroup Corp.’s South Carolina Medicaid business.

But Centene said today the deal will require further discussions, though it provided no details. Centene said it still aims to close both transactions.