Magazine article Mortgage Banking

Radian Group's Q4 Earnings Up 26 Percent

Magazine article Mortgage Banking

Radian Group's Q4 Earnings Up 26 Percent

Article excerpt

PHILADELPHIA-BASED RADIAN GROUP, INC., has announced reported net income of $64.4 million for fourth-quarter 2000, compared with $48.2 million in the fourth quarter of 1999. Net income per share was $1.66, compared with $1.25 in fourth-quarter 1999. Fourth-quarter results on an operating basis, which exclude net direct costs for Radian's 1999 merger, were 26 percent better than the $51.1 million, or $1.32 per share, reported in fourth-quarter 1999, according to the company. For the year ended Dec. 31, 2000, net income was $248.9 million, or $6.44 per share, compared with $148.1 million, or $3.83 per share, in 1999. Operating income for this period increased by 38 percent from the $180.8 million, or $4.69 per share, reported a year ago. Premiums earned in the fourth quarter were $133.8 million, up 8 percent compared with $123.8 million in 1999. Net investment income was $22. …

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