UPDATE: Amerigroup Posts Upbeat Q4 Results, Projects Rise In 2012 Revenue

Amerigroup Corp

posted a better-than-expected fourth-quarter profit. Amerigroup's quarterly net income dropped to $32.8 million, or $0.67 per share, from $79.6 million, or $1.59 per share, in the year-ago period. Its total revenue climbed 10% to $1.65 billion. However, analysts were expecting earnings of $0.62 per share on revenue of $1.62 billion. Amerigroup expects a 40% surge in its 2012 revenue. Amerigroup shares gained 0.03% to close at $70.20 yesterday.