Friday, May 09, 2008
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
The Phoenix Cos. posted a $19 million net loss for the first quarter on equity market declines, large death claims, the loss of a major client and unusual expenses, including a recent proxy fight.
The Hartford-based company said Thursday that it had an operating loss of $4.7 million, or 4 cents a share, in this year's quarter, compared with $37.4 million, or 32 cents a share, of operating profit a year ago. Operating results exclude realized investment gains and losses.
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
Source: Hartford Courant
The Hartford-based company said Thursday that it had an operating loss of $4.7 million, or 4 cents a share, in this year's quarter, compared with $37.4 million, or 32 cents a share, of operating profit a year ago. Operating results exclude realized investment gains and losses.
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
Source: Hartford Courant
Permalink posted by armandn @ 11:08 AM 
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