February 23, 2012 / 11:46 AM / 5 years ago

UPDATE 1-SXC Health profit rides on strong contract wins

Feb 23 (Reuters) - SXC Health Solutions Corp reported a 60 percent jump in quarterly profit on strong contract wins, prompting the pharmacy benefit manager to predict a 38 percent revenue growth this year.

The Lisle, Illinois-based company forecast 2012 sales of $6.8 billion to $6.9 billion, much higher than the $5.0 billion it reported for last year.

Fourth-quarter net income rose to $26.7 million, or 42 cents per share, from $16.6 million, or 26 cents per share, last year.

Excluding special items, it earned 48 cents per share.

Revenue at the company, which earlier this week won a $1.2 billion contract from a health insurer, more than doubled to $1.38 billion.

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