Join        Login             Stock Quote

Radian Group (RDN) Posts Wider 4Q Loss On Minimal Gains

 February 11, 2013 08:44 AM

(By Balaseshan) Radian Group Inc. (NYSE: RDN), a credit enhancement company, reported a wider quarterly loss due to minimal gains on investments and change in fair value of derivatives. Revenue dropped 38%, yet exceeded Street's expectations.

Loss for the fourth quarter widened to $177.30 million or $1.34 per share from $121.54 million or $0.92 per share last year.

The company said the latest quarter loss included minimal net gains on investments and combined net gains from the change in fair value of derivatives and other financial instruments as well as an income tax provision of $20.5 million.

[Related -Radian Group Inc (RDN): CEO Insider Buying A Case Of Valuation Verses Past Performance]

Total revenue decreased to $226.06 million from $364.55 million.

Analysts, on average, polled by Thomson Reuters had expected a loss of $0.50 per share on revenue of $200.03 million for the fourth quarter.

New mortgage insurance written (NIW) was $11.7 billion for the quarter, compared to $10.6 billion in the third quarter of 2012 and $6.5 billion in the prior-year quarter.

The mortgage insurance provision for losses was $306.9 million in the fourth quarter of 2012, compared to $171.8 million in the third quarter and $333.3 million in the prior-year period.

The total number of primary delinquent loans decreased by 2% in the fourth quarter from the third quarter of 2012, and by 16% from the fourth quarter of 2011.

[Related -Stocks Decline Amid Europe Meet; Caesars Entertainment (CZR) Tumbles]

Total mortgage insurance claims paid were $263.4 million in the fourth quarter, compared to $272.4 million in the third quarter and $291.6 million in the fourth quarter of 2011.

Looking ahead, the company expects mortgage insurance net claims paid for the full-year 2013 of $900 million to $1.0 billion. The company anticipates paying dividend of about $35 million in 2013.

RDN closed Friday's regular session down 2.33% at $6.72. The stock has been trading between $2.00 and $7.15 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageHerbalife Ltd. (NYSE:HLF) Q2 Earnings Preview: The Potential To Shock?

Herbalife Ltd. (NYSE:HLF) will release its second quarter 2014 financial results after the close of trading read on...

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

article imageAmazon.com, Inc. (AMZN) Q2 Earnings Preview: Missing on the Top and Bottom Lines, Again?

Amazon.com, Inc. (NASDAQ:AMZN) will release its second quarter financial results after market close on read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

Stocks Set To Open Higher; Google (GOOG) Eyed
More Articles on: Finance

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.