Tuesday, Life Partners Holdings, Inc. (LPHI), the parent company of secondary market life insurance company Life Partners, Inc., said that it expects a 26% increase in profit for the first quarter over the same period last year.
For the first quarter, Life Partners expects to report earnings of about $0.53 per share compared to earnings of $0.42 per share in the prior year.
The company noted that all earnings per share calculations are adjusted to account for the 5-for-4 stock split in February 2009.
Net income for the quarter is expected to be $7.8 million, compared to $6.2 million in the previous year.
Pre-tax income is expected to increase 26% to $12.3 million from $9.8 million a year ago.
Revenues are expected to be $27.4 million, up 12% from $24.4 million in the previous fiscal.
Commenting on the expectations, Brian Pardo, Chief Executive Officer, said, "We are continuing to see growth within the life settlement industry and, as a leader in this industry, we are continuing to grow as well. As the financial markets remain turbulent, we expect the interest in life settlements to continue."
The company said it plans to report its earnings on or about July 10, 2009.
LPHI is currently trading at $16.24,down $0.60 or 3.56%, on the Nasdaq.
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