Symetra Financial Corp. (SYA) reported first-quarter net income of $66.0 million or $0.48 per share from $75.4 million or $0.55 per share in the same period last year.
Adjusted operating income for the quarter was $50.4 million, or $0.37 per share, down from $59.3 million or $0.43 per share in the year-ago quarter.
On average 10 analysts polled by Thomson Reuters expected the company to earn $0.34 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly revenues rose to $557.1 million from $543.0 million in the prior year, while five analysts expected revenues of $518.76 million.
Looking ahead to the fiscal year 2013, Symetra expects to report adjusted operating income in a range of $1.30 per share to $1.50 per share. Analysts currently expect the company to report earnings of $1.38 per share for 2013.
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