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To: Yogizuna who wrote (169913)	12/8/2008 7:39:12 PM
From: DebtBomb	Respond to of 306849

MET warns. MetLife says 4Q results will miss estimates Monday December 8, 6:57 pm ET MetLife forecasts 4th-quarter and 2009 profits that fall below analysts' expectations NEW YORK (AP) -- MetLife Inc. said Monday ahead of an investor's conference that its fourth-quarter and 2009 operating results will fall short of analysts' expectations because of a sharp decline in variable investment income and continued weakening of the equity markets. The New York-based insurer said it expects fourth-quarter operating results of between a loss of $50 million, or 5 cents per share, and earnings of $150 million, or 20 cents per share. Analysts polled by Thomson Reuters, on average, forecast earnings of 74 cents per share for the quarter. These estimates typically exclude one-time items. Insurers like MetLife tend to emphasize operating income because it excludes certain costs -- including some types of investment gains and losses such as those from derivatives -- that insurers do not consider reflective of trends in their business. MetLife said its overall net income, which includes certain investment gains, will be between $1.2 billion, or $1.50 per share, and $2 billion, or $2.55 per share. The estimate is based on realized investment gains, primarily from derivatives, of between $1.2 billion and $1.8 billion. MetLife's projected 2009 operating profit also falls below analysts' expectations. MetLife said it expects to generate between $3 billion and $3.3 billion in operating earnings, or $3.60 to $4 per share. The estimate does not include an anticipated charge of about $70 million, or 8 cents per share, tied to an operational efficiency initiative. Analysts, on average, forecast MetLife will earn $4.48 per share next year. The 2009 estimate is based on revenue growth of between 4 percent and 5 percent compared with 2008 and low variable-investment income. MetLife said the projection also forecasts a 5 percent increase in the Standard & Poor's 500-stock index during the year. The company anticipates revenue between $32.7 billion and $33.3 billion this year. MetLife shares fell 73 cents to close at $30.03 Monday. biz.yahoo.com