Unitrin, Inc. Reports Second Quarter Results
Unitrin, Inc. (NYSE: UTR) reported today a net loss of $0.5 million ($0.01 per share) for the second quarter of 2011, compared to net income of $37.8 million ($0.61 per share) for the second quarter of 2010. Net income was $53.6 million ($0.88 per share) for the six months ended June 30, 2011, compared to $86.0 million ($1.38 per share) for the six months ended June 30, 2010.
Loss from continuing operations was $1.5 million ($0.03 per share) for the second quarter of 2011, compared to income from continuing operations of $39.1 million ($0.63 per share) for the second quarter of 2010. Income from continuing operations was $54.3 million ($0.89 per share) for the six months ended June 30, 2011, compared to $86.8 million ($1.39 per share) for the six months ended June 30, 2010.
|Three Months Ended||Six Months Ended|
|Jun 30,||Jun 30,||Jun 30,||Jun 30,|
|(Dollars in millions, except per share amounts)||2011||2010||2011||2010|
|Income (Loss) from Continuing Operations||$||(1.5||)||$||39.1||$||54.3||$||86.8|
|Income (Loss) from Discontinued Operations||1.0||(1.3||)||(0.7||)||(0.8||)|
|Net Income (Loss)||$||(0.5||)||$||37.8||$||53.6||$||86.0|
|Basic Net Income (Loss) Per Share:|
Don Southwell, Unitrin's Chairman, President and Chief Executive Officer, commented, “It was truly an unprecedented quarter for catastrophe losses, particularly those related to tornadoes, hail and high winds. Unitrin's dedicated first response teams were on the ground within hours to provide customers with emergency funding and to expedite the claims process. Collectively these events had an after-tax impact of approximately $65 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV