Amerigroup Corp (NYSE:AGP) Beats Estimates But Doesn't Offer Guidance

Sales in the quarter rose 18% year-over-year to $1.36 billion, inline with consensus estimates of $1.36 billion.

Meanwhile, Amerigroup said membership at the end of 2009 was approximately 1.8 million, up 13.2% in the year.

CEO James Carlson said, "While total membership exceeded expectations during the year, primarily due to swelling Medicaid eligibility in most states, premium rates were suppressed due to unprecedented state budget deficits."

In October of 2009, the Company withdrew its earnings per share guidance for 2009 due to the wide range of medical cost outcomes that were possible in the fourth quarter as well as uncertainty regarding premium rate actions.

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