AmerUs Group ( AMH), a life insurance and annuity products company, said its third-quarter earnings fell 49.7% from the year-ago period, on the back of charges.

The Des Moines, Iowa-based company earned $5.3 million, or 12 cents a share, in the quarter, compared with $38.6 million, or 91 cents a share, a year ago. Adjusted net operating income was $52.4 million, or $1.22 a share, in the quarter, compared with $48.6 million, or $1.14 a share, a year ago. Adjusted for capital transactions associated with the Aviva merger, the company earned $1.27 a share in the most recent quarter. Analysts were expecting earnings of $1.26 a share.

Third-quarter revenue rose 14.6% from the year-ago period to $496.4 million, as compared to analysts' expectation of $425.7 million.

Sales of fixed-life products increased 13% to $33.5 million, driven by consumer demand. Fixed annuity products sales remained flat at $687 million.

Net investment income was $291 million in the quarter compared with $279 million last year, led by growth in invested assets and higher yields on investments.

The company's shares were trading up 3 cents to $68.51 Wednesday.
This story was created through a joint venture between TheStreet.com and IRIS.

If you liked this article you might like

Smithfield Foods Names Interim CFO

Smithfield Foods Names Interim CFO

Synopsys' Earnings Rise Sharply

Synopsys' Earnings Rise Sharply

Indian Stocks Close Higher

Indian Stocks Close Higher