MBIA posts 4Q profit

PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Monday reported fourth-quarter profit of $82 million.

The Purchase, New York-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring gains, came to 6 cents per share.

The insurance and reinsurance company posted revenue of $297 million in the period.

For the year, the company reported profit of $180 million, or $1.06 per share. Revenue was reported as $853 million.

MBIA shares have increased nearly 6 per cent since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.86, a decline of 24 per cent in the last 12 months.


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Keywords: MBIA, Earnings Report