Health Net Gov’t Contract Revenue Jumps 7% in 1Q, Total Sales Up 28%

electronic-health-record-EHRHealth Net (NYSE: HNT) — one of 30 companies listed in Executive Mosaic’s GovCon Index — has announced financial results for the first quarter of its 2015 fiscal year ended March 31, 2015.

The Los Angeles-based managed healthcare services company said its revenue from government contracts increased 7.37 percent from the prior year period to $154.71 million.

Health Net attributed its government contract revenue activity in part to the Defense Department‘s award in March of three additional one-year options for the company to continue support services for the Tricare program in 22 states DoD defines as the “North region.”

Overall sales for the company rose 28 percent year-over-year to $3.89 billion and profit climbed 4.17 percent from the prior year period to $29.99 million.

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