Health Net Inc. said Tuesday its second quarter profits were nearly cut in half as it took a one-time $17.6 million charge related to the sale of its Northeast U.S. health plans.

The Woodland Hills health insurer reported net income of $40.1 million (38 cents per share), down 47 percent from $76.7 million (71 cents) a year ago. Total revenues for the quarter increased 4.5 percent to $4 billion.

The results included $19.6 million in severance and other expenses that Health Net said were related to its previously announced operations strategy. Last month, the insurer announced a deal to sell its commercial operations in Connecticut, New York and New Jersey to United Health Group for about $180 million.

Excluding the charge, net income fell 34 percent to $50.8 million. Enrollments in the insurer’s health plans totaled 3.6 million members at the end of June, a decrease of 4.2 percent compared to a year ago.

However, company officials said the company increased enrollment in its key California and Western markets, which it intends to focus on as it moves out of the Northeast market.

“Our Western region health plans produced commercial new sales of 42,000 members in the second quarter, with 15,000 of these new members in California’s more affordable products,” said Jim Woys, Health Net’s chief operating officer. “Many customers are choosing these more affordable alternatives, especially given the current economic environment.”

Total commercial health care costs per member increased 10.5 percent. However, Woys said the “underlying commercial health care cost trends are consistent with expectations.”

In mid-morning trading, HealthNet gained 21 cents, or 1.5 percent, to $13.92.