Kemper Corporation (NYSE: KMPR) reported today net income of $2.3 million ($0.04 per share) for the second quarter of 2012, compared to a net loss of $3.3 million ($0.06 per share) for the second quarter of 2011. Consolidated net operating loss 1 was $0.8 million ($0.01 per share) for the second quarter of 2012, compared to consolidated net operating loss of $20.2 million ($0.33 per share) for the second quarter of 2011.
|Three Months Ended||Six Months Ended|
|(Dollars in millions, except per share amounts) (Unaudited)||Jun 30,2012||Jun 30,2011||Jun 30,2012||Jun 30,2011|
|Consolidated Net Operating Income (Loss) 1||$||(0.8||)||$||(20.2||)||$||32.6||$||15.9|
|Income (Loss) from Continuing Operations||1.6||(9.4||)||37.9||35.6|
|Net Income (Loss)||2.3||(3.3||)||45.9||48.2|
|Impact of Catastrophe Losses and Loss Adjustment Expense (LAE) on Net Income||$||(36.3||)||$||(67.8||)||$||(43.7||)||$||(74.1||)|
|Basic Net Income (Loss) Per Share From:|
|Consolidated Net Operating Income (Loss) 1||$||(0.01||)||$||(0.33||)||$||0.54||$||0.26|
|Net Income (Loss)||0.04||(0.06||)||0.77||0.79|
|Impact of Catastrophe Losses and LAE on Net Income Per Share||$||(0.61||)||$||(1.12||)||$||(0.73||)||$||(1.22||)|
1 Consolidated net operating income (loss) is an after-tax, non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” for additional information.
“As recently announced, we decided to cease direct marketing efforts and are moving forward with a full strategic analysis of Kemper Direct to maximize value for our shareholders,” commented Donald G. Southwell, Kemper's Chairman, President and Chief Executive Officer. “Although our overall property and casualty results improved over 2011, we had a difficult second quarter, experiencing catastrophe losses totaling $36 million after-tax and increased loss trends. Accordingly, we continue to file for rate increases and take underwriting actions to improve our P&C profitability.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV