This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aflac 3Q Profits Suffer Along With Japan's Yen

By The Associated Press

NEWS: Insurer Aflac Inc. says its net income fell 31 percent as it absorbed the impact of a weaker yen in Japan, where it does a substantial portion of its business.

DETAILS: Aflac said the yen has fallen by more than 20 percent against the dollar compared to a year ago. Because of that, Aflac Japan's premium income grew almost 7 percent in yen, but fell 15 percent in dollars, to $3.7 billion. U.S. premium income rose 3 percent to $1.3 billion.

NUMBERS: Net income was $702 million, or $1.50 per share, for the quarter that ended Sept. 30. That was down from $1.02 billion, or $2.16 per share, during the same period a year earlier. Revenue fell 14 percent to $5.89 billion, from $6.85 billion a year earlier. Its adjusted earnings amounted to $1.47 a share in the latest quarter. Analysts surveyed by FactSet had been expecting a profit of $1.48 per share on that basis on revenue of $5.9 billion.

FUTURE: "While the (U.S.) unemployment rate has shown some signs of improvement, hiring remains weak, especially at smaller employers" where Aflac gets 90 percent of its business, Chairman and CEO Daniel P. Amos said in a written statement. He predicted 2014 operating earnings of $6.28 to $6.52 a share. Analysts had been expecting $6.52 a share.

STOCK: Shares had risen 53 cents to close at $67 before the results were released. They fell $1.10 to $65.90 in after-hours trading.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs