To: puborectalis who wrote (65838 ) 10/12/1999 3:17:00 PM From: Jenna Read Replies (1) | Respond to of 120523
MTG..goes on its merry way without volatility, hassles.. all stocks should be this easy. newsletter stock called the stock on the 4th october.. Has been up every day since. (from 48 to 53 1/4 day high when market is down...down...)not fancy but solid.techstocks.com MGIC Investment Corporation Third Quarter Earnings Per Share Up 29 Percent MILWAUKEE, Oct. 12 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG - news) today reported earnings for the quarter ended September 30, 1999 of $122.9 million, an increase of 27 percent over the $96.5 million in earnings reported in the third quarter of 1998. Earnings per share for the quarter totaled $1.11, compared with $0.86 for the third quarter of 1998, an increase of 29 percent. Excluding $0.02 per share of realized gains included in the 1998 third quarter results, earnings per share increased 32 percent in the current quarter. For the first nine months of 1999, net income totaled $336.3 million, as compared to $285.8 million last year, an increase of 18 percent. Earnings per share for the first nine months of 1999 increased 23 percent to $3.06, from $2.49 for the same period last year. Included in the nine month earnings per share results was $0.02 for realized gains, compared to $0.08 for the nine months last year. William H. Lacy, chairman and chief executive officer of MGIC Investment Corporation, and chairman of Mortgage Guaranty Insurance Corporation (MGIC), said the company is pleased to report record earnings in the third quarter driven by higher insurance in force growth, continued excellent loss performance and lower underwriting expenses. Total revenues for the third quarter were $250.4 million, up from $240.9 million in the third quarter of 1998. The growth in revenues resulted from a 5 percent increase in net premiums earned to $200.0 million, and an 8 percent increase in investment income to $39.3 million. Net premiums written for the third quarter were $207.6 million, compared with $190.6 million for the third quarter of 1998, an increase of 9 percent.