Conseco’s fourth quarter operating profits rose 5 percent, beating expectations, as the struggling U.S. life insurance and loan firm continued its efforts to shore up its finances. The Carmel, Ind.-based company reported fourth-quarter operating profits, excluding one-time items, of $41.1 million, or 13 cents per share compared with a profit of $39.3 million, or 12 cents per share, in the same quarter last year. Analysts expected 8 cents per share profit. Conseco’s fourth-quarter net result, including one-time charges totaling $420 million, was a loss of $378.7 million, or $1.16 per share, compared with a loss of $62.6 million, or 19 cents per share, in the same quarter 1999.
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