Harbinger Group Inc. (HRG) reported that its second-quarter net loss attributable to common and participating preferred stockholders widened to $45.5 million or $0.33 per share from a loss of $3.9 million or $0.03 per share prior year. The company noted that its second-quarter results include a $39.6 million loss from the change in the fair value of the equity conversion feature of preferred stock.
Total revenues increased to $1.41 billion from $1.11 billion last year. The company said the increase was primarily driven by the HHI acquisition in Consumer Products segment, and to a lesser extent, realized and unrealized gains on derivatives in the Insurance segment, revenues from the new EXCO/HGI Partnership, and new business activity in the Financial Services segment.
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