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Health Net Restatement Doubles Fourth Quarter Income to $90 Million.

By Pam Dawkins, Connecticut Post, Bridgeport Knight Ridder/Tribune Business News

Feb. 12--Shelton-based Health Net of the Northeast Inc.'s parent company Wednesday restated earnings for the first three quarters of 2003 and reported a doubling of income in the fourth quarter from the year-ago period.

"It was a byproduct of a very rigorous audit process. We're pleased that these adjustments were small," said David Olson, a senior vice president with Los Angeles-based Health Net Inc., of the restatements.

In addition to what the company, in a ne

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