MGIC Investment Posts Q3 Profit - Quick Facts

(RTTNews) - MGIC Investment Corporation(MTG), Wednesday said it reported a profit for the third-quarter, reflecting fewer new delinquency notices received, a lower claim rate and favorable development in severity.

For the three-month period, the company reported profit of $12.1 million or $0.04 per share, compared with a net loss of $246.9 million or $1.22 per share a year ago. This year's results include total losses and expenses of $241.9 million, compared with $556.1 million last year.

On average, nine analysts polled by Thomson Reuters expected the company to report a loss per share of $0.13 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues, however, decreased to $254.4 million from $306.2 million a year ago. Analysts expected the company to generate revenues of $260.78 million for the quarter.