Radian Group Posts Loss In Q3

(RTTNews) - Radian Group Inc.(RDN) Thursday reported a net loss for the third-quarter, that included minimal combined net gains from the change in fair value of derivatives and other financial instruments and minimal net losses on investments. The results also included a $22 million loss with regard to Freddie Mac Agreement, and about $16.8 million of variable compensation expense directly related to the company's stock price increase.

For the three-month period, the company reported net loss of $12.7 million or $0.07 per share, compared with net profit of $14.3 million or $0.11 per share last year.

On average, nine analysts polled by Thomson Reuters expected the company to report loss per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues decreased to $244.5 million, from prior year's $260.7 million. Net premiums earned, in insurance were $211.9 million, compared with $190.9 million last year. Analysts expected the company to generate revenues of $211 million for the quarter.