Radian Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 26, 2017 at 05:00 pm IST
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Radian Group Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenues of $274,449,000 against $274,882,000 a year ago. Pretax income was $97,796,000 against $104,710,000 a year ago. Net income was $61,089,000 or $0.27 per diluted share against $74,528,000 or $0.32 per diluted share a year ago. Total adjusted pretax operating income was $140,217,000 against $124,107,000 a year ago. Adjusted diluted net operating income per share was $0.41 against $0.34 a year ago.
For the year, the company reported total revenues of $1,238,452,000 against $1,193,253,000 a year ago. Pretax income from continuing operations was $483,686,000 against $437,829,000 a year ago. Net income from continuing operations was $308,253,000 or $1.37 per diluted share against $281,539,000 or $1.20 per diluted share a year ago. Net income was $308,253,000 or $1.37 per diluted share against $286,924,000 or $1.22 per diluted share a year ago. Total adjusted pretax operating income was $541,750,000 against $510,894,000 a year ago. Adjusted diluted net operating income per share was $1.56 against $1.40 a year ago. Book value per share was $13.39 against $12.07 a year ago.
Radian Group Inc. is a diversified mortgage and real estate services company. The Company provides mortgage insurance and other products and services to the real estate and mortgage finance industries. The Company operates through its two business segments: Mortgage and homegenius. The Companyâs Mortgage segment aggregates, manages and distributes United States mortgage credit risk on behalf of mortgage lending institutions and mortgage credit investors, principally through private mortgage insurance on residential first-lien mortgage loans, and also provides other credit risk management, contract underwriting and fulfillment solutions. The Company's homegenius segment offers an array of title, real estate and technology products and services to consumers, mortgage lenders, mortgage and real estate investors, Government-sponsored enterprises (GSE) and real estate brokers and agents, and corporations for their employees.