Primerica, Inc. (NYSE: PRI) announced today financial results for the fourth quarter and full year ended December 31, 2012. Total revenues were $304.5 million in the fourth quarter of 2012 and net income was $40.3 million, or $0.67 per diluted share. For the full year 2012, total revenues were $1.19 billion and net income was $173.8 million or $2.71 net income per diluted share. Operating revenues increased by 12% to $303.4 million in the fourth quarter of 2012 compared with $271.6 million in the fourth quarter of 2011. Net operating income per diluted share grew 36% to $0.69 from $0.51 in the prior year period with net operating income growing 14% to $41.6 million in the fourth quarter of 2012 from $36.7 million in the fourth quarter of 2011. Net income return on stockholders’ equity (ROE) was 12.3% (14.0% on a net operating income and adjusted stockholders’ equity basis) for the quarter ended December 31, 2012. Results for the fourth quarter of 2012 reflect continued growth in the Term Life business as well as strong Investment and Savings Products (ISP) sales and the favorable impact of market performance on client assets values. Net investment income declined compared with the fourth quarter of 2011 largely due to our lower invested asset base following our stock repurchases. Year-over-year net operating income was impacted by an increase in premium-related and employee-related expenses as well as higher legal fees and expenses, partially offset by specific charges in the fourth quarter of 2011. For the full year 2012, net operating income increased 12% to $174.5 million compared with $156.0 million for 2011, which when combined with active capital management, resulted in a 32% year-over-year increase in diluted operating EPS to $2.72. Our 2012 results were driven by growth in the Term Life business coupled with lower non-deferred commissions as well as increased Investment and Savings Products sales and client asset values. Results also reflect lower invested assets due to our $257.3 million of share repurchases during the year and increased interest expense largely related to the redundant reserve financing executed in 2012.