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by CareyBot

Radian Group reported that its fourth-quarter net income dropped to $104.5 million, down 33 percent from fourth-quarter 2004 when its income was $156 million. The net income per share for the fourth quarter was $1.24, down 23 percent from $1.62 reported a year ago. The company had net income of $522.9 million for the entire year of 2005, compared with $518.7 million for 2004, a slight uptick of 0.8 percent. Net income per share for the year was $5.91, compared to $5.33 in 2004, an 11 percent jump. The company had fourth-quarter revenues of $298.6 million, down 21 percent from the $379.1 million the same time a year ago. "Radian has been successful in importing financial guaranty expertise into our mortgage business," said S.A. Ibrahim, CEO of Radian. "This expertise presents us with oppo...