Radian Group reports net income growth

Radian Group today reported net income of $120 million for the first quarter of 2004, or a 15 percent increase over the first quarter of last year.

Per share, the net income was $1.26, up 14 percent from $1.11 a year ago.

The company’s revenues totaled $334 million, an 11 percent increase from $302 million in the first quarter of 2003.

“Our mortgage insurance business continues to produce strong returns and we are encouraged by signs of improvement in credit and persistency,” CEO Frank Filipps said in a statement.