Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Meadowbrook Insurance Posts Loss

RELATED NEWS
Trade MIG now with 

Meadowbrook Insurance Group Inc. (MIG: Quote) Tuesday reported fourth-quarter net loss of $12 million or $0.24 per share, compared with net income of $38 million or $0.76 per share last year.

Results for the recent quarter results included $0.06 per share of after-tax realized gains, compared with $0.76 per share last year.

Excluding items, operating loss for the quarter was $15 million or $0.30 per share, compared to with earnings of $47,000 or less than $0.01 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.12 per share. Analysts' estimates typically exclude special items.

Total revenue for the quarter fell to $196.6 million from $300 million last year. Analysts expected revenue of $189.05 million.

The combined ratio was 124.6% for the quarter, compared with 104.5% in the prior year.

For 2014, the company still expects gross written premium to be between $775 million and $800 million and operating earnings to be between $25 million and $35 million or between $0.50 and $0.70 per share.

Click here to receive FREE breaking news email alerts for MEADOWBROOK INS GROUP and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%. Here is a quick summary of the earnings reported after the bell on Nov. 24. 1. Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter. Excluding items, adjusted earnings...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.