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Article: Ambac Financial Group, Inc. Announces Second Quarter Net Income of $173.0 Million, Down 27%.(Financial report)

Article from:
Business Wire
Article date:
July 25, 2007
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Second Quarter Net Income Per Diluted Share of $1.67, down 25%,

Second Quarter Credit Enhancement Production((1)) $367.8 million, down 31%

NEW YORK -- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced second quarter 2007 net income of $173.0 million, or $1.67 per diluted share. This represents a 27% decrease from second quarter 2006 net income of $238.6 million, and a 25% decrease in net income per diluted share from $2.22. The decrease is primarily due to unrealized mark-to-market losses amounting to ($56.9) million, or ($0.36) per diluted share, related to credit derivative exposures in the second quarter 2007. The comparable quarter of ... 







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