Radian Net Rises

Credit risk management company Radian's ( RDN) second quarter earnings rose 5.6%, helped by growth in mortgage insurance business.

The company earned $148.15 million, or $1.79 a share, in the quarter, compared with $140.22 million, or $1.56 a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of $1.55 a share.

Second-quarter revenue fell 1.9% from a year ago to $304.58 million.

Net premium written fell 0.1% to $298.88 million and net investment income increased 19.3% to $59.68 million.

Revenue from mortgage insurance business rose 8.7% to $247.98 million and from financial guaranty business fell 33.1% to $54.48 million.

"Our second quarter results validate the strategy we outlined last year," said the company. "Our businesses performed well, illustrating our success in leveraging Radian's blended expertise in mortgage insurance and financial guaranty to benefit customers and to effectively manage our own credit risk exposure."

This story was created through a joint venture between TheStreet.com and IRIS.

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