Harbinger Group Q3 Profit Down, But EPS Up - Quick Facts

(RTTNews) - Harbinger Group Inc. (HRG) reported that its net income attributable to common and participating preferred stockholders for the third quarter of fiscal 2014 was $49.0 million or $0.28 per share compared to $91.6 million or $0.25 per share in the year ago quarter.

Consolidated Operating income was $229.1 million compared to $182.6 million in the fiscal 2013 Quarter, an increase of $46.5 million, or 25.5%. The increase was due to double-digit growth in all business segments over the Fiscal 2013 Quarter, particularly Consumer Products and Insurance, which grew by 28.5% and 30.4%, respectively.

Total Revenues for the quarter were $1.6 billion, an increase of $190.2 million, or 13.5%, as compared to the third quarter of fiscal 2013 , driven by revenue growth in all segments except Energy, which declined immaterially due to a slight decrease in oil revenues relative to the fiscal 2013 quarter.

The company expects to receive approximately $117.0 million of dividends during the Fiscal 2014 Year, inclusive of the $85.1 million already received during the Fiscal 2014 Nine Months, which does not give effect to the net impact from $9 million of interest payments made by HGI on behalf of HGI Energy with respect to certain intercompany notes issued by HGI Energy to other HGI subsidiaries.