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Article: MBIA Inc. Reports 23 Percent Increase in Fourth Quarter Net Income; Fourth Quarter Operating Earnings Up 4 Percent.
- Article from:
- Business Wire
- Article date:
- February 3, 2000
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Business Editors
ARMONK, N.Y.--(BUSINESS WIRE)--Feb. 3, 2000
MBIA Inc. (NYSE:MBI), holding company for MBIA Insurance Corporation, reported today that fourth quarter net income increased 23 percent to $126.9 million from $103.4 million in 1998's fourth quarter. Diluted earnings per share also increased 23 percent to $1.27 from $1.03 in the 1998 fourth quarter. Results from the 1998 fourth quarter include a one-time after-tax charge of $12.8 million or $0.13 per share related to the reorganization of the company's municipal services operations.
Diluted operating earnings were $1.21 per share, up 4 percent from $1.16 per share in the year-ago ...