Health Net profit slips on tax charge but shares gain despite missing Wall Street estimates.

Health Net Inc. reported third-quarter net income of $90.9 million (76 cents per share), a 14-percent increase from $78.2 million (67 cents) for the same period a year earlier. The company also reported a one-time financing charge which lowered its profit from 84 cents per share, which would have beat analysts’ estimates of 83 cents.

Revenue for the Los Angeles-based healthcare provider climbed 6 percent to $3.25 billion on 10 percent growth in health plan revenue. However, the company also reported that revenue from government contracts fell 12 percent because of lower health-care claims volume.

“Earnings and share performance over the next year, if it is not acquired during that time, will likely be driven by operating margins, said said Merrill Lynch analyst Douglas Simpson. “With its greater exposure to risk business and lower operating margins than its peers, HNT earnings are more sensitive to margin swings.”

Shares in Health Net added 62 cents to $42.29 in early trading Friday.