Old Republic International Corporation (ORI: Quote) reported a fourth-quarter net loss of $20.2 million or $0.08 per share compared to profit of $55.2 million or $0.22 per share last year. Excluding run-off business, the company reported net income of $60.1 million or $0.23 per share compared to $118.5 million or $0.47 last year.
Operating loss per share was $0.09 compared to a loss of $0.11 prior year. Analysts polled by Thomson Reuters expected the company to report fourth-quarter loss per share of $0.06. Analysts’ estimates typically exclude special items. Total operating revenues increased to $1.28 billion from $1.18 billion last year. Analysts expected revenue of $1.22 billion for the quarter.
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by RTT Staff Writer
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