NEW YORK, Feb. 17, 2011 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (Nasdaq:NAVG) reported net income of $17.3 million, or $1.07 per diluted share, for the three months ended December 31, 2010 compared to net income of $6.1 million, or $0.35 per diluted share, for the comparable period in 2009. Operating earnings (1) were $4.7 million, or $0.29 per diluted share for the fourth quarter of 2010 compared to $5.3 million, or $0.30 per diluted share, for the comparable period in 2009. As previously announced on January 21, 2011, during the fourth quarter of 2010 Navigators recognized $9.2 million of after-tax reinsurance reinstatement costs related to the April 2010 Deepwater Horizon loss event in the Gulf of Mexico, which reduced net written and net earned premiums by $14.2 million.
Navigators Reports Fourth Quarter Earnings
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.