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Article: MBIA Inc. reports 18 percent increase in 1996 first quarter net income.
- Article from:
- Business Wire
- Article date:
- May 2, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARMONK, N.Y.--(BUSINESS WIRE)--May 2, 1996--MBIA Inc. (NYSE: MBI), the holding company for MBIA Insurance Corporation, today reported that 1996 first quarter net income rose 18 percent to $77.6 million from $66.0 million in the first quarter of 1995. Earnings per share increased 15 percent to $1.81 from $1.57 in last year's first quarter. Operating earnings were $1.75 per share in the first quarter, up 14 percent from $1.54.
MBIA's first quarter core earnings were $1.60 per share, a 12 percent increase over the $1.43 reported in the same period last year. Core earnings exclude the net income effects of capital gains, premiums earned from refunded issues and ...
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