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 opportunities to provide unique and creative solutions to our customers in the acquisition, management and distribution of global credit risk. It also enables us to more effectively manage our own mortgage risk, using tools like Smart Home. We are pleased to report net income of $523 million for the year and $104 million in the fourth quarter, while our book value and diluted net income per share both increased by more than 10 percent over 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 $57.62 a share this morning.

***

Send tips or a Letter to the Editor to janis@inman.com or call (510) 658-9252, ext. 140.

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
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription