MGIC Investment Posts Sharply Narrower Q4 Loss - Quick Facts

(RTTNews) - Mortgage insurer MGIC Investment Corp. (MTG) reported fourth-quarter net loss of $1.41 million or breakeven per share, sharply narrower than $386.69 million or $1.91 per share in the prior-year quarter.

Losses incurred in the fourth quarter was $196.06 million, compared to $688.64 million last year.

Total revenues for the quarter declined to $251.94 million from $371.37 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share and revenues of $254.67 million for the quarter. Analysts' estimates typically exclude special items.

Net premiums written for the quarter were $204.08 million, down from $260.74 million last year. Net premiums earned also declined to $226.36 million from $261.71 million a year ago.

Realized gains in the quarter $2.13 million, compared to $87.36 million in the year-ago quarter.