Rochester, NY 8/22/2009 2:31:06 AM
Horace Mann Educators Corp., HMN - Horace Mann Post Second Quarter Financial Results
Horace Mann Educators Corp.
Horace Mann Educators Corporation recently posted a company’s net income of $18.6 million (46 cents per share) and $32.0 million (79 cents per share) for the three and six month ended June 30, 2009, this is to compared to $4.5 million (11 cents per share) and $18.8 million (45 cents per share) during the same quarter of last year.
Included in net income were net realized gains on securities of $11.0 million ($7.2 million after tax, or 18 cents per share) and $10.2 million ($6.6 million after tax, or 16 cents per share) for the three and six months ended June 30, 2009, respectively.
"As the financial markets have begun to stabilize and improve, our confidence in the quality of our investment portfolio has been substantiated. Spread narrowing in the credit markets has significantly improved our unrealized loss position, with reported book value per share increasing 26 percent sequentially to $14.34. Meanwhile, book value per share excluding FAS 115 is now slightly higher than a year ago - just prior to the meltdown of the financial markets. Key balance sheet ratios, including risk based capital, remain consistent with our ratings, which have now been reaffirmed by all three primary rating agencies," said Louis G. Lower, President and Chief Executive Officer.
About Stock Einstein
StockEinstein uses proprietary technologies coupled with years of experience to uncover stocks we feel have the greatest potential for breakout performance. We utilize not only software, but time tested criteria to uncover these potential winners. When these benchmarks are reached or exceeded, our subscribers are immediately notified.
This service is free and available only to subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
Disclaimer: Full disclaimer at http://StockEinstein.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinstein, nor any of its affiliates are registered investment advisors or broker dealers.
