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 firstname.lastname@example.org.