Life Partner Provides 1Q Earnings Guidance

WACO, Texas (AP) — Insurance company Life Partners Holdings Inc. said Tuesday it expects record earnings for its fiscal first quarter.

The Waco, Texas-based company said it expects to report net income of $7.8 million, or 53 cents per share, for the period ending May 31. That compares with earnings of $6.2 million, or 42 cents per share, last year.

The company said it expects to report $27.4 million in revenue, a 12 percent increase from $24.4 million a year ago.

The earnings-per-share calculations have been adjusted to reflect a 5-for-4 stock split in February.

Life Partners seeks to buy life-insurance policies of terminally ill patients and the elderly at a discount to their face value.

The company plans to report its results around July 10.

Shares of Life Partners fell 32 cents to $16.52 in morning trading.