Kemper Corporation (NYSE: KMPR) reported today net income of $25.4 million ($0.42 per share) for the fourth quarter of 2011, compared to net income of $62.9 million ($1.03 per share) for the fourth quarter of 2010. Net income was $83.7 million ($1.38 per share) for the year ended December 31, 2011, compared to $184.6 million ($2.98 per share) for the year ended December 31, 2010.
Consolidated net operating income 1 was $25.2 million ($0.42 per share) for the fourth quarter of 2011, compared to consolidated net operating income of $39.7 million ($0.65 per share) for the fourth quarter of 2010. Consolidated net operating income was $56.3 million ($0.93 per share) for the year ended December 31, 2011, compared to consolidated net operating income of $151.9 million ($2.45 per share) for the year ended December 31, 2010.
|Three Months Ended||Year Ended|
|Dec 31,||Dec 31,||Dec 31,||Dec 31,|
|(Dollars in millions, except per share amounts) (Unaudited)||2011||2010||2011||2010|
|Consolidated Net Operating Income||$||25.2||$||39.7||$||56.3||$||151.9|
|Income from Continuing Operations||26.1||55.7||70.9||169.1|
|Impact of Catastrophe Losses and Loss Adjustment Expense (LAE) on Net Income||$||(4.6||)||$||(14.0||)||$||(106.5||)||$||(51.5||)|
|Basic Net Income Per Share From:|
|Consolidated Net Operating Income 1||$||0.42||$||0.65||$||0.93||$||2.45|
|Impact of Catastrophe Losses and LAE on Net Income Per Share||$||(0.08||)||$||(0.23||)||$||(1.76||)||$||(0.83||)|
1 Consolidated net operating income is an after-tax, Non-GAAP financial measure and is not computed in accordance with accounting principles generally accepted in the United States. See "Use of Non-GAAP Measures" for additional information.
“Our Life and Health group delivered solid results in both the quarter and full year, with stable trends in the investment portfolio and near record highs in the number of filled agency territories. Results on the Property and Casualty side were mixed, especially given the significant weather-related losses across the industry throughout the year,” commented Don Southwell, Kemper's Chairman, President and Chief Executive Officer.
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