Life Partners Holdings Inc. (LPHI), the parent of secondary market life insurance company Life Partners Inc., Thursday said it expects a 5% year-over-year increase in profit for the first quarter, 2010. Further, the company expects to report a 50% return on equity and a 75% return on capital for the period.
For the quarter, Waco, Texas-based Life Partners' expects to report net income of $7.8 million or $0.52 per share, including a one-time charge of $0.75 million in deferred revenue and $0.033 per share negative impact on net income, after taxes. This earnings outlook is 5% higher than the net income of $7.4 million or $0.50 per share, reported in the prior year.
On average, two analysts polled by Thomson Reuters currently expect the company to earn $0.57 per share. Analysts estimates typically exclude one-time items.
The company noted that the financial results were in line with its expectations for growth during the year.
Chief Executive Officer Brian Pardo said, "Individual and institutional investors all over the world are realizing the value of life settlements and are turning to us because of our experience, our infrastructure, and our leadership in the life settlement industry."
For the preceding fourth quarter, Life Partners' net income was $5.92 million or $0.40 per share on revenues of $25.53 million.
LPHI is currently trading at $19.83, down $0.28 or 1.39% on a volume of 41.4 thousand shares on the Nasdaq. In the last 52-weeks, the stock traded in a range of $13.61 to $24.50.
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