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by CareyBot

Private mortgage insurance provider MGIC Investment Corp. (NYSE:MTG) reported fourth-quarter net income of $134.5 million, up 29.5 percent from the $103.9 million reported for the same quarter a year ago. Diluted earnings per share gained to $1.39 in the fourth quarter, up 32.4 percent from $1.05 for the same quarter a year ago. Net income for the full year 2004 was $553.2 million, compared with $493.9 million for the same period last year, an increase of 12 percent. Diluted earnings per share for the full year 2004 were $5.63 compared with $4.99 in 2003, a 12.8 percent increase. Curt S. Culver, president and chief executive officer of MGIC Investment Corp. and Mortgage Guaranty Insurance Corp., said that earnings were higher as a result of improved credit loss performance, higher cont...