Aflac Inc. (AFL) posted fourth quarter net income of $251 million or $0.53 per share, compared to $197 million or $0.42 per share, a year ago. Operating earnings in the fourth quarter were $558 million or $1.18 per share, compared to $458 million or $0.98 per share in last year quarter.
On average, fifteen analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share. Analysts' estimates typically exclude special items.
Aflac Inc.'s fourth quarter results included the results of Continental American Insurance Company, which was acquired by Aflac on October 1, 2009. Net earnings in the fourth quarter included after-tax realized investment losses of $307 million, or $0.65 per share, compared with losses of $262 million, or $0.56 per share in the same quarter last year.
Revenues for the quarter grew to $4.6 billion from $4.3 billion in last year period. Three Wall Street analysts expected revenues of $4.99 billion.
Looking forward, for the fiscal year 2010, the company expects operating earnings per share to increase 9% to 12%, to $5.29 to $5.43 per share, excluding the impact of the yen. If the yen averages 90 to 95 to the dollar for the full year, the company expect reported earnings to be in the range of $5.24 to $5.56 per share.
Street analysts expect earnings of $4.83 per share for the full-year.
Further, the company's board of directors declared a first quarter cash dividend of $0.28 per share, payable on March 1, 2010, to shareholders of record at the close of business on February 16, 2010.
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