Unitrin Profit Falls

Earnings beat targets, though.
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Insurance and consumer finance products and services provider



said Monday that its second-quarter earnings fell 11.3% from the year-ago period, hurt by lower net realized investment gains.

The Chicago, Ill.-based company earned $69.4 million, or $1.01 a share, in the quarter, compared with $78.2 million, or $1.13 a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 80 cents a share in the most recent quarter.

Second-quarter revenue fell 2.3% from a year ago to $773.2 million.

"We are pleased to report record second quarter Unitrin operating results. Operating results continued to improve at our Unitrin Kemper Auto and Home segment, which was the largest single contributor to our bottom line in the second quarter", the company said.

By segment, second-quarter revenue from Unitrin Kemper Auto and Home segment rose marginally by 0.9% from a year ago to $250.8 million; revenue from Unitrin Direct rose 1.7% to $59 million; revenue from Unitrin Business Insurance rose 2.8% to $55.6 million; revenue from Life and Health Insurance segment rose 2.1% to $216.1 million; and revenue from Consumer Finance rose 13.7% to $61.6 million. However, revenue from Unitrin Specialty segment fell marginally 0.9% to $118.1 million.

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