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Wednesday, November 04, 2009
Conseco Swings To Quarterly Profit Of $15.4 Mln
By Alistair Barr
MarketWatch Pulse
SAN FRANCISCO -- Conseco Inc. said late Wednesday that third-quarter net income came in at $15.4 million, or 8 cents a share, versus a net loss of $183.3 million, or 99 cents a share, a year earlier. Operating income, which excludes net realized investment gains and losses and other items, was $54.3 million, or 29 cents a share, in the latest period, Conseco reported. The insurer was expected to make 22 cents a share, according to the average estimate of six analysts in a Thomson Reuters survey. The insurer's main Bankers Life business generated operating earnings of $85.4 million in the third quarter of 2009, up 26% from a year earlier. Conseco shares climbed 1.5% to $5.47 in after hours trading.
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