Genworth Financial Inc (GNW)

[califax]

Genworth Financial Announces Fourth Quarter 2009 Results
/ Earnings Improvement Demonstrates Strategic Progress

28.01.2010 22:05
http://www.finanznachrichten.de/nachrichten-2010-01/16009420-genworth-financial-announces-fourth-quarter-2009-results-earnings-improvement-demonstrates-strategic-progress-008.htm

RICHMOND, Va., Jan. 28 /PRNewswire-FirstCall/ --
Genworth Financial, Inc. today reported results for the fourth quarter of 2009. Net income(1), before provision for noncontrolling interests, was $75 million, or $0.15 per diluted share, compared with a net loss of $321 million, or $0.74 per diluted share, in the fourth quarter of 2008. Net operating income(2), before provision for noncontrolling interests, for the fourth quarter of 2009 was $128 million, or $0.26 per diluted share, compared to a net operating loss of $207 million, or $0.48 per diluted share, in the fourth quarter of 2008.

Reflecting the company's reduction in ownership of Genworth MI Canada in the third quarter of 2009 from 100 percent to 57.5 percent in connection with an initial public offering (IPO) transaction, Genworth's net income available to Genworth's common stockholders was $40 million, or $0.08 per diluted share, in the fourth quarter of 2009. On this same basis, net operating income available to Genworth's common stockholders for the fourth quarter of 2009 was $94 million, or $0.19 per diluted share.