Axis Capital Holdings Ltd. (AXS) reported fourth quarter net income available to common shareholders of $131 million, or $0.88 per common share, compared to net income of $306 million or $1.89 per common share, for the corresponding period in 2007.
Operating income for the fourth quarter of 2008 was $163 million, or $1.09 per share, compared with $296 million, or $1.83 per common share, for the fourth quarter of 2007.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $579.26 million from $805.37 million in the prior year quarter. Two analysts had consensus revenue estimate of $730.69 million for the quarter.
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