logo
Share SHARE
FONT-SIZE Plus   Neg

Mercury General Q1 Profit Rises - Quick Facts

Mercury General Corp. (MCY) reported that its first-quarter net income was $73.4 million or $1.34 per share up from $58.2 million or $1.06 per share for the same period in 2011.

Operating income was $39.1 million or $0.71 per share for the first quarter of 2012 compared to $39.6 million or $0.72 per share for the same period in 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums written were $658.3 million in the first quarter of 2012, essentially the same as the corresponding period in 2011. Revenues for the quarter rose to $722.68 million from $705.54 million in the prior year quarter. Three analysts had consensus revenue estimate of $679.46 million for the quarter.

The company said that its board declared a quarterly dividend of $0.61 per share. The dividend is to be paid on June 28, 2012 to shareholders of record on June 14, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Semiconductor packaging company Amkor Technology Inc. (AMKR), Monday reported a plunge in profit for the second quarter, as revenues declined and margins narrowed. The bottom line was also impacted by a debt extinguishment charge. Shares of the company fell about 14 percent in extended hours after... Hartford Financial reported a swing to profit for the second quarter, helped mainly by improved underwriting results in property and casualty business, and contribution from Talcott Resolution, while the prior year included a one-time loss from discontinued operations. Hartford's quarterly earnings easily topped Wall Street estimates... Chinese internet-search giant Baidu Inc. (BIDU), Monday reported an increase in profit for the second quarter, as revenues jumped a near 40 percent, with both earnings and revenues trumping Street estimates. However, Baidu shares plunged over 8 percent in after-hours trade on the Nasdaq, after its...
comments powered by Disqus
Follow RTT