Radian Group’s third-quarter net income was $122.2 million, or $1.31 per share, the company reported this week. The income represented a 7 percent increase from the same quarter the previous year, when Radian earned a net income of $114 million, or $1.20 per share.

The company had third quarter revenues of $377.3 million, up 8 percent from the $349 million the same time a year ago.

“We’re pleased to report a record quarter for Radian,” chairman and CEO Frank P. Filipps said in a statement. “The contributions from each business segment together helped Radian achieve its highest quarterly net income of $122 million and revenues of more than $377 million.”

Radian’s net income for the first nine months of this year totaled $362.7 million, up 10 percent from $330.4 million for the same time frame last year.

Philadelphia-based Radian is a credit enhancement provider to the global financial and capital markets. Radian’s subsidiaries provide products and services through three business lines: financial guaranty, mortgage insurance and other financial services.

Radian stock (NYSE: RDN) was trading at $45.57 a share Friday morning.

***

What’s your opinion? Send your Letter to the Editor to samantha@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top