Carmel, Ind. based Conseco, Inc. today reported results for the first quarter of 2006:
According to the written statement issued by the company, the net operating income was $55.8 million (including after-tax expenses of $9.6 million related to certain litigation reserves), down 21percent from 1st quarter in 2005.
Then net operating income per diluted share was 36 cents (including after-tax expenses of 5 cents per share related to certain litigation reserves), down 16 percent from 1st quarter 2005. While net income applicable to common stock: $55.1 million, down 24 percent from last year (including $7 million of net realized investment losses in 1st quarter 2006 vs. $2 million of net realized investment gains in 1st quarter 2005.
Additional final results included a net income per diluted share of 35 cents, down 20 percent from 1st quarter 2005 (including 1 cent of net realized investment losses in 1st quarter 2006 vs. 1 cent of net realized investment gains in 1st quarter 2005). Sales (new annualized premium) of $85.8 million were up 7 percent over 1st quarter 2005.
During the 1st quarter 2006, Conseco continued to make progress on its initiatives to increase sales, aggressively manage expenses, enhance its technology and operating platform, build a high-performance culture and maintain top-tier corporate governance practices, the Conseco’s statement said.
Source: Conseco, Inc.