State Auto Financial Corp. (STFC) reported first quarter 2013 net income of $19.7 million, or $0.49 per share, versus a net loss of $2.0 million, or $0.05 per share, for the first quarter of 2012.
Income before federal income taxes for the quarter was $20.0 million, compared to a loss of $2.0 million in the previous year.
Net income from operations per share for the first quarter 2013 was $0.38 versus net loss from operations of $0.16 for the same 2012 period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter increased to $285.3 million from $280.3 million last year. Three analysts had consensus revenue estimate of $281.26 million for the quarter.
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