Exhibit 99.1

Date: May 30, 2019

 

CorVel Corporation

 

 

2010 Main Street

 

 

Suite 600

 

 

Irvine, CA 92614

 

 

FOR IMMEDIATE RELEASE

 

Contact: Melissa Storan

 

 

Phone: 949-851-1473

 

 

http://www.corvel.com

 

CorVel Announces Revenues and Earnings

IRVINE, California, May 30, 2019— CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter and fiscal year ended March 31, 2019. Revenues for the quarter ended March 31, 2019 were $151 million, an increase of 5.2% from revenues of $144 million in the same quarter of the prior year. Earnings per share for the quarter ended March 31, 2019 were $0.63, an increase of 32% from earnings per share of $0.47 in the same quarter of the prior year.

Revenues for the fiscal year ended March 31, 2019 were $596 million, up 6.7% from $558 million for the fiscal year ended March 31, 2018.   Earnings per share for the fiscal year ended March 31, 2019 were $2.46, an increase of 31% from earnings per share of $1.87 for fiscal year ended March 31, 2018.

Revenues for the quarter were driven by the Company’s Patient Management TPA business. As the momentum in these services continues, the Company’s commitment to deliver improved outcomes begins with timely implementation of new programs. Historically, transitioning large programs to a new TPA vendor has been an area of concern for Risk Managers and key decision makers. To facilitate and improve the onboarding of large programs, the Company has invested in the development of new processes and technologies to reduce the time it takes to transition new clients while improving the accuracy of the data. During the quarter, the Company made substantial progress in this area with the delivery of an automated onboarding program. The Company’s solution is a cloud-based application which automatically codifies, maps and validates thousands of historical and industry data sets for incorporation into the Company’s system, further increasing the accuracy of the implementation process.

The Company continued development on its claims management platform, the EdgeSM. During the quarter, the Company successfully integrated the Executive Summary Dashboards in the EdgeSM for all claims management and carrier customers. The dashboards provide dynamic and interactive high-level overviews of a client’s entire program, including identification of trends and safety concerns as well as a benchmark view to compare book of business and industry-specific results. Complete program visibility and real-time updates from the dashboard allow customers to proactively manage their program.

About CorVel

CorVel Corporation is a national provider of innovative workers’ compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization’s performance goals.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s results of operations, including


The following information was filed by Corvel Corp (CRVL) on Thursday, May 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Corvel Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Corvel Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account